Bitcoin

The king of cryptocurrencies, according to a crypto analyst who correctly predicted Bitcoin&#39;s (BTC) 2022 price floor, may be just one resistance level away from setting a new record high.Pseudonymous trader DonAlt informs his 48,900 YouTube subscribers in a new strategy session that Bitcoin looks extremely strong on the monthly period after overcoming resistance at $24,000.The well-known trader claims that the breakout is Bitcoin&#39;s first significant indication of bullishness since November 2021, when BTC reached its record high of $69,000.&#34;It has been a very, very long time since [Bitcoin] looked this nice. Ok, let&#39;s be honest.Looking at the chart, we can see that since the monthly&#39;s all-time high, there hasn&#39;t been any bullishness. That has been a total farce. Each barrier served its purpose. Really, there wasn&#39;t much bounce at all. Technically speaking, the first bullish signal will be sent if this monthly closes above resistance, which is currently at roughly $24,000. That might go on for a while, in my opinion.Monthly signs typically last for more than one or two candles, but they just keep going. Simply put, I&#39;ll say that $35,000 represents resistance, and if that level is broken, I don&#39;t think you want to sell before a new record high.DonAlt claims that he envisions a scenario where Bitcoin might surge near $33,000 before correcting to $27,000 to prepare for an attempt to overcome resistance at $35,000. He bases this on looking at the weekly timeframe.Something like that frequently occur. It actually reveals whether it wants to move up or not when you get a rejection right before a significant level on a high timeframe and then you have a minor pullback or two weeks into just another push into that monthly barrier.

Trader Who Nailed Bitcoin 2022 Bottom Says BTC One Resistance Away From New All-Time High – Here’s His Outlook

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Andra artiklar publicerade 20 mars 2023

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