A cryptocurrency analyst, known as DonAlt, predicts a significant Bitcoin price surge. He bases this prediction on improving market structure shown on daily charts.
Bitcoin’s Bullish Outlook
DonAlt, who boasts a large YouTube following, believes Bitcoin’s current trading pattern around $96,000 suggests a breakout is increasingly likely. He points to the growing size of daily price candles as a key indicator, suggesting accumulating pressure for a price move. He expects Bitcoin to move “a little bit higher” than its current price.
The Potential Downside
However, DonAlt cautions that a failure to break upwards could lead to a significant price drop. He suggests a potential revisit of the $40,000 to $30,000 range, representing a substantial pullback of up to 72%. He considers a drop to $30,000 possible, but doesn’t believe it would fall below $40,000.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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