A trader who rode this year’s surge in the crypto markets believes that Bitcoin (BTC) is now in a position to ignite more rallies.
In a recent strategy session, pseudonymous analyst DonAlt tells his 50,800 YouTube subscribers that Bitcoin looks bullish now that the crypto king is trading above $27,400.
In a bearish scenario, DonAlt sees Bitcoin rallying close to $30,000 before another leg down.
“If you reclaim ($27,400), that’s going to be a big strong signal. I think that could easily take us, if this sh** is truly cursed, it could take us to $29,400 and then go back down. That would be horrendous.”
In a bullish scenario, DonAlt expects Bitcoin to eliminate resistances across multiple timeframes and surge to as high as $35,000.
“I do like $27,400 again. I think if we reclaim it, it’s moon time… And timeframes would start cascading into each other, which I love to see. When you have the four-hour (chart) rolling over into the daily, rolling over into the weekly, and if that goes into the monthly, which it can – monthly resistance is at $35,000 – that’s a pretty sweet deal. And that’s a few good trades to have…
I’m turning more and more bullish with every day that goes by.”
At time of writing, Bitcoin is trading for $28,170, up over 4% in the last 24 hours and well above DonAlt’s key price level of $27,400.
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