{"id":244454,"date":"2024-02-09T18:43:04","date_gmt":"2024-02-09T13:13:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=244454"},"modified":"2024-02-09T18:43:04","modified_gmt":"2024-02-09T13:13:04","slug":"top-crypto-analyst-predicts-bitcoin-will-break-out-and-hit-60000-but-theres-a-catch-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/top-crypto-analyst-predicts-bitcoin-will-break-out-and-hit-60000-but-theres-a-catch-crypto-news\/","title":{"rendered":"Top Crypto Analyst Predicts Bitcoin Will Break Out and Hit $60,000 \u2013 But There\u2019s a Catch – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

A popular crypto analyst is predicting that Bitcoin (BTC<\/a>) will soon make a sudden move to the upside and cross a key level.<\/p>\n

In a new strategy session, crypto strategist DonAlt tells<\/a> his 56,800 YouTube subscribers that Bitcoin is on the verge of breaking out of a resistance level on the weekly chart and could soar more than 32% from its current value.<\/p>\n

However, the analyst warns if the breakout fails Bitcoin could dip below the $40,000 range.<\/p>\n

\u201cIf this breaks out [of the $43,622 level] on the weekly timeframe, trust it until it fails. If this breaks out, I don\u2019t really see a good reason to be bearish. It just doesn\u2019t make any sense. It\u2019s a strong chart with a clear direction, then you\u2019re betting on higher. <\/em><\/p>\n

And if that fails, it\u2019s probably going to fail spectacularly. If that breakout fails again like it did with the ETF (spot Bitcoin exchange-traded fund), I think it\u2019s going to fail spectacularly so you\u2019re going to get a move lower [to the mid $30,000s]. <\/em>So starting from low $40,000s I think you\u2019re going to be invalidated and then you lost a little bit but, you can buy quite a bit cheaper. <\/em><\/p>\n

And if it breaks out, I think the more likely outcome would be just going higher to the next resistance and the next resistance is $60,000-ish, which would be quite exciting.\u201d<\/em><\/p>\n

Source: DonAlt\/YouTube<\/figcaption><\/figure>\n

The analyst says if Bitcoin moves to the downside it\u2019s not likely to dip below the support level of $35,000 on the monthly chart.<\/p>\n

\u201c$35,000 big support. $45,000-ish big monthly resistance. That\u2019s kind of the boundaries we\u2019re moving in. And I honestly think there\u2019s a good chance that this is going to be where we are going to be for a while\u2026<\/em><\/p>\n

But generally speaking, monthly bullish. If you get a pullback, that\u2019s a buy. The only level that it could pull back to that isn\u2019t in the middle of nowhere, $35,000.\u201d<\/em><\/p>\n

\"\"
Source: DonAlt\/YouTube<\/figcaption><\/figure>\n

Bitcoin is trading for $45,310 at time of writing, up 2.5% in the last 24 hours.<\/p>\n