Analyst: “I’m Waiting For BTC To Rise Again”

The leading cryptocurrency Bitcoin has dropped as low as $22,750 after it failed in attempts to surpass $25,000. After recovering a little, BTC is currently continuing its horizontal movements at $ 23,000. While investors were wondering what direction Bitcoin’s movements would take, a Bitcoin comment came from the analyst using the nickname DonAlt, who bought BTC at the bottom level of $ 16,000 in November, sold it at the peak of $ 25,000, but bought BTC again at $ 23,000.

Pointing out that this day, which will be the monthly closing in Bitcoin, is critical for the crypto markets, the analyst said that a very important moment is approaching for the BTC monthly closing markets. Stating that Bitcoin is on the verge of closing above the monthly resistance of $ 23,291, the analyst argued that this shows that the 2023 rally of BTC is not over yet.

“If we close above the monthly resistance, we may see another small drop next month. But overall, I expect BTC to rise again. So I am quite happy to have a position in Bitcoin.”

The analyst, who sold half of his Bitcoins in the past days, stated that he re-entered the market due to the fear of missing the opportunity, and said that the thought of the rise in BTC continued despite the decreases.

“If Bitcoin drops below $23,000 once again and approaches an important short-term support area around $22,000, traders need to be extremely careful. And I think we had some pullback towards the best support in that area, $23,000. If that support level is down, we have a few points of interest. If it starts to break out, I think it makes sense to be cautious because then we enter an area where we are no longer making higher lows and we are back to the old ranges below $22,500.”

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.