{"id":338079,"date":"2024-07-05T12:44:27","date_gmt":"2024-07-05T07:14:27","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=338079"},"modified":"2024-07-05T12:44:27","modified_gmt":"2024-07-05T07:14:27","slug":"100000-bitcoin-incoming-if-btc-climbs-back-above-major-resistance-level-says-top-trader-but-theres-a-catch-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/100000-bitcoin-incoming-if-btc-climbs-back-above-major-resistance-level-says-top-trader-but-theres-a-catch-crypto-news\/","title":{"rendered":"$100,000 Bitcoin Incoming if BTC Climbs Back Above Major Resistance Level, Says Top Trader \u2013 But There\u2019s a Catch – Crypto News"},"content":{"rendered":"

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A closely followed crypto strategist believes that Bitcoin (BTC<\/a>) could reach a six-figure price tag if it manages to reclaim a major resistance level.<\/p>\n

In a new strategy session, pseudonymous crypto analyst DonAlt tells<\/a> the 61,000 subscribers of the TechnicalRoundup YouTube channel that the sell-off Bitcoin has witnessed recently could be invalidated if it manages to close around 9% above its current price.<\/p>\n

Afterward, the trader says the top crypto asset by market cap could kick off a rally that would see it eclipse its all-time high set earlier this year.<\/p>\n

\u201cThe invalidation is above $63,000, $64,000. Like the moment we start closing above [$63,861], I think it\u2019s just going to go back to $80,000\u2026 Like at first, all-time high and then $80,000, $90,000, $100,000.\u201d<\/em><\/p>\n

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

DonAlt, however, warns that Bitcoin could plunge by around 10% from its current price if the support level at around $56,500 crumbles.<\/p>\n

\u201cIf this [$56,500] support fails, first [it is to] $52,000. That is quite close. So if you\u2019re bidding $52,000, you\u2019re expecting this to be a false breakdown that immediately reverses, which is possible, but I think it\u2019s quite unlikely given the length of this range [from March to July of 2024]. <\/em><\/p>\n

But it is possible especially if the traditional market stays strong. If you don\u2019t think that\u2019s going to happen I think you kind of have to bid lower. And I think that would be like $44,000\u2026 <\/em><\/p>\n

The bearish case, if we\u2019re breaking down, would be that we go down here [around $52,000], bounce a little and then immediately kind of rug pull fully towards $40,000. I think that would be full capitulation.\u201d<\/em><\/p>\n

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

Bitcoin is trading at $57,443 at time of writing, a 4.5% decrease during the last 24 hours.<\/p>\n