A cryptocurrency analyst known as DonAlt is sounding the alarm about Bitcoin’s price. He’s predicting a potential major drop if a key support level breaks.
Bitcoin’s Crucial Support Level
DonAlt, who has a large YouTube following, says Bitcoin could fall over 13% from its current price. He highlights $80,000 as a critical support level. If Bitcoin falls below this, he believes the situation will look “really bad,” as there’s little support to prevent further declines. He’d prefer to see Bitcoin hold above $95,000 for a more positive outlook.
A Bullish Scenario?
However, there’s a glimmer of hope. DonAlt suggests that if Bitcoin can close above $98,000 on the weekly chart, it could signal a strong bullish reversal, potentially leading to new highs. But a close below $98,000 would paint a much less optimistic picture, making it harder to predict where the price drop might stop.
Current Bitcoin Price and Disclaimer
At the time of writing, Bitcoin is trading around $92,483, down slightly over the past 24 hours. Remember, this analysis is just one opinion, and cryptocurrency investments are inherently risky. Always do your own research before investing.
