Analyst DonAlt reveals the “mega moon” scenario for Bitcoin this year
A prominent strategist and trader has just unveiled a scenario where Bitcoin is picking up steam again, surging over 80% this year.
In one strategy session Newly, analyst DonAlt says Bitcoin is trading in a wide range on a weekly time frame of $33,000 to $60,000.
According to DonAlt, the current large range offers two solid entry points for BTC.
“There are two places you can trade in this case: One is at the bottom of the range ($33,000) as I did. Second, I’ll trade when it shows up to get $33,000 back… Mega Moon at $60,000.”
The price action from the bottom of the range at $33,000 to the top of $60,000 offers an 81.82% upside potential for BTC.
Although the strategist is optimistic about temporarily losing the $33,000 support, he has conviction to explain Why falling below this critical level is dangerous for BTC.
“Honestly, the last thing I would do is bid $28,000. It’s like making a failed $6,000 bid in 2018. Why should someone do this? If I lose the current range ($33,000-$60,000), I want to buy once the price returns to the bottom of the range or much lower.”
The source: DonAlt
During the 2018 bear market, Bitcoin broke the $6,000 support and lost almost 50% of its value in less than a month.
In the short-term, DonAlt forecasts Bitcoin to rally to $44,000 on this initial rally.
“The daily chart is pretty wild. Twitter pundits are expected to return to the upside somewhere between the next two resistance levels. I hope to get that far.”
The source: DonAlt
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Analyst DonAlt reveals the “mega moon” scenario for Bitcoin this year
A prominent strategist and trader has just unveiled a scenario where Bitcoin is picking up steam again, surging over 80% this year.
In one strategy session Newly, analyst DonAlt says Bitcoin is trading in a wide range on a weekly time frame of $33,000 to $60,000.
According to DonAlt, the current large range offers two solid entry points for BTC.
“There are two places you can trade in this case: One is at the bottom of the range ($33,000) as I did. Second, I’ll trade when it shows up to get $33,000 back… Mega Moon at $60,000.”
The price action from the bottom of the range at $33,000 to the top of $60,000 offers an 81.82% upside potential for BTC.
Although the strategist is optimistic about temporarily losing the $33,000 support, he has conviction to explain Why falling below this critical level is dangerous for BTC.
“Honestly, the last thing I would do is bid $28,000. It’s like making a failed $6,000 bid in 2018. Why should someone do this? If I lose the current range ($33,000-$60,000), I want to buy once the price returns to the bottom of the range or much lower.”
The source: DonAlt
During the 2018 bear market, Bitcoin broke the $6,000 support and lost almost 50% of its value in less than a month.
In the short-term, DonAlt forecasts Bitcoin to rally to $44,000 on this initial rally.
“The daily chart is pretty wild. Twitter pundits are expected to return to the upside somewhere between the next two resistance levels. I hope to get that far.”
The source: DonAlt
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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