A top crypto analyst, known for his accurate Bitcoin predictions, thinks the eight-month price rollercoaster for Bitcoin might finally be coming to an end.
Bitcoin Breakout Point
The analyst, who goes by the pseudonym DonAlt, believes Bitcoin will start moving upwards if it breaks through a crucial resistance level of $65,000. He also thinks it would be good for Bitcoin to test its current support level before making a climb.
“If Bitcoin goes above $65,000, I think we’ve finally escaped the endless price swings below $58,000,” DonAlt said. “A move above $61,700 would be a good first step towards breaking through $65,000. I’m hopeful we’ll see a rise after all this price volatility.”
Ethereum’s Potential
DonAlt is also keeping a close eye on Ethereum (ETH), the leading smart contract platform. He sees a potential bullish pattern forming for ETH, known as an ascending triangle.
“I’m calling it the triangle of hope,” DonAlt said. “If ETH breaks above its horizontal resistance, it could be a sign of a bullish reversal.”
He believes that if ETH climbs above $2,700, it will look very attractive to investors. He even suggests that a move above $2,500 could be a strong signal, although that would be a more aggressive prediction.
Important Disclaimer
Remember, these are just predictions from a single analyst. Always do your own research before making any investment decisions. The crypto market is volatile and risky, and any losses you experience are your own responsibility.
