Trader Who Accurately Predicted 2023 Crypto Rally Reveals Full Bull Scenario For Bitcoin — But There’s A Big Catch
A closely-following analyst who has been on the ball of this year’s crypto rally says he sees a scenario where Bitcoin (BTC) breaks out and recovers close to its all-time high of around $69,000.
Pseudonymous analyst DonAlt tells his 476,800 Twitter followers that Bitcoin bulls need to take out another level of resistance around $33,000 to trigger a full blown bull market.
However, the crypto trader does not see BTC taking a direct path towards the all-time high should Bitcoin surge above its immediate resistance. According to DonAlt, the breakout rally at $33,000 is likely to be followed by a quick corrective move.
“I think when it fully hits it would look something like this… There’s going to be a big nuke for me to get trades, there always is.”
Source: DonAlt/Twitter
Looking at the traders chart, it appears that the breakout rally could propel Bitcoin near $50,000 before turning back down and finding support at $30,000.
Crypto strategist Cred seems to have a similar prediction for Bitcoin. The pseudonymous crypto analyst says Bitcoin is unlikely to face resistance until it reaches the $32,250 price level, with the next problem around $35,000. Break these levels and Cred believes Bitcoin could quickly surge to $40,000.
“Sellers had a hard time selling this market below $30,000. Personally, I didn’t see $30,000> as a major area of resistance. I think the low to mid-$30k is where it really matters. I will look for lower rotations from there before the market teleports to $40,000 and liquidates me.
Source: Cred/Twitter
At the time of writing, Bitcoin is trading at $30,494.
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