A crypto analyst who boldly turned bitcoin bull at BTC’s November lows updates his view of the market following a sharp pullback.
The pseudonymous German trader, whose Twitter alter ego is an anthropomorphic duck, tells his 460,000 followers that anyone shorting BTC may be making a mistake.
DonAlt says that BTC’s recent uptrend — defined simply as an asset that has posted a series of higher highs in price paired with higher lows — remains intact.
In a recent YouTube update, DonAlt said it would take a significant pullback for him to reconsider his belief that this rally isn’t over.
“What I don’t want to see is just massive drops.
Let’s say we’re going to $20,000, $19,000, that’s when I start to get a little concerned that my thesis is wrong.
Of course it could still go up after that, but I would think my thesis is wrong, which would probably make me want to sell.
Everything [above] that – I mean, I don’t think there’s anything that can throw me out of position at this point.”
Bitcoin hit a low of $15,724 on November 9 last year and hit $24,182 on February 1.
At the time of publication, BTC is trading at $21,808, up 0.6% over the past 24 hours.
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