Analyst Predicts Bitcoin Could Rally to $60,000
An analyst who successfully predicted the crypto rally in 2023 believes that Bitcoin (BTC) is on the verge of rallying to $60,000. Crypto strategist DonAlt suggests that the price area between $44,000 and $45,000 is the only obstacle preventing Bitcoin from a significant surge. DonAlt envisions a scenario where Bitcoin first touches support at around $38,000 before breaking through the resistance at $45,000 and heading towards $60,000. He also notes that despite several bearish catalysts, such as the approval of spot Bitcoin exchange-traded funds (ETFs), failing to push BTC to lower levels, it is now unlikely for Bitcoin to revisit support at around $30,000. Currently, Bitcoin is valued at $42,963.
Hot Take: Bitcoin’s Potential Path to $60,000
Analyst DonAlt predicts that Bitcoin could rally to $60,000 if it breaks through the resistance level at $45,000. He believes that the current tight range of Bitcoin’s price presents an opportunity for a breakout. Despite bearish catalysts failing to push BTC lower, DonAlt suggests that a breakout above the range high could lead to a significant surge in price. With support at around $38,000 and resistance at $45,000 broken, DonAlt sees $60,000 as the next key resistance level for Bitcoin. This prediction aligns with his previous successful forecast of the 2023 crypto rally.
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