Trader Who Caught 2023 Crypto Surge Predicts Rallies for Bitcoin, Says BTC Sentiment Far From Overly Bullish – Crypto News – Crypto News
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Trader Who Caught 2023 Crypto Surge Predicts Rallies for Bitcoin, Says BTC Sentiment Far From Overly Bullish Trader Who Caught 2023 Crypto Surge Predicts Rallies for Bitcoin, Says BTC Sentiment Far From Overly Bullish

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Trader Who Caught 2023 Crypto Surge Predicts Rallies for Bitcoin, Says BTC Sentiment Far From Overly Bullish – Crypto News

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3 years ago

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A trader who masterfully rode the crypto rally at the start of the year has flipped bullish on Bitcoin (BTC) as the king crypto eclipses the $30,000 level.

In a new strategy session, pseudonymous analyst DonAlt tells his 51,800 YouTube subscribers that Bitcoin is currently hovering at a level that he calls the “indecision zone.”

According to the crypto strategist, he thinks Bitcoin could burst through the indecision area at around $30,000 as he believes sentiment for the crypto markets is not at extreme levels.

“If this is the reversal, you will have to have a candle that goes into this indecision zone. There’s no way to go above it besides going into it, too.

So for me, looking at this, we tested the indecision zone before – that was in April. We got rejected there. And now we’re straight back to where we were.

I was happy to fade it the first time around, especially given sentiment was starting to be hilariously bullish again into that resistance. People were gambling on altcoins. People were gambling on memecoins…. So I was very, very eager to sell into that move.

Now, I’m much less eager because one, I think sentiment is actually not even close to where it was back when [BTC] was here the first time. Second, this resistance has been tested before, so it’s weaker now. Third… basically we had a consolidation at $16,000, moved up, then we had a consolidation at $23,000 and then we moved up, and now we had a consolidation roughly at $27,000, and you could argue that, ‘Hey this is just the same thing’ again. As in, we’re just going to probably do the same thing that we did back then.

So for me, I’m not going to fade it. It’s at resistance, but I’m giving it room.”

Source: TechnicalRoundup/YouTube

Although DonAlt is bullish on Bitcoin, he warns that the rally might be “cooked” if Bitcoin pulls back close to the $26,000 to $27,000 price levels.

At the time of writing, Bitcoin is trading for $30,712.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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