Trader Who Sold $25,000 of Bitcoin Reveals When He’ll Get ‘Very Very Bullish’ on BTC
A cryptoanalyst who rode the Bitcoin (BTC) rally from the bottom in 2022 is updating his view on the flagship digital asset.
In a new video, pseudonymous crypto trader DonAlt tells his 48,500 YouTube subscribers that he will become extremely bullish on the king crypto if it falls to the $19,000-$20,000 support level.
“On the monthly, we still have some room left. Technically, $19,000, $20,000, that’s the support. That’s where I’m going to be very, very bullish again. But we’re not there yet. I’m in position, so I’m taking the tape along with everyone else. I sold the best $25,000 and then I bought back $23,000.”
Bitcoin is trading at $20,055 at the time of writing, down 7.6% in the last 24 hours.
According to DonAlt, Bitcoin could rise to $35,000 if it manages to break above the $23,500 resistance level.
“Good resistance here $22,000, $23,000 … $23,500 actually. And good support down here [around $19,000 – $20,000]. And if we break that resistance [$23,500]if you retreat here and then bounce, next target [is] $35,000. I still believe [around $16,000] is actually the bottom, has been the bottom, [and] will be the bottom.”
The strategist says that a good buying opportunity for Bitcoin will present itself if BTC goes back above $23,000.
“I think the smartest play is actually to buy the $23,000 payback. It’s going to be [the] worst price, but only marginally. And I think if we take back $23,000, we’re going to go to $30,000 plus. You still have a lot of room to go from there and you don’t have the risk that you get if you play aggressively.”
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