A trader known as DonAlt, who successfully rode the cryptocurrency rally earlier this year, has turned bullish on Bitcoin as it surpasses the $30,000 level. In a recent strategy session, DonAlt stated that Bitcoin is currently in the “indecision zone” and believes it could break through the $30,000 mark due to the sentiment in the crypto markets not being at extreme levels. He noted that sentiment was much higher during the previous rejection in April and that resistance levels have weakened since then. DonAlt also mentioned that Bitcoin’s price has undergone consolidations at various levels before moving up, suggesting that a similar pattern may occur again. While he is bullish on Bitcoin, DonAlt warns that the rally could be in danger if the price falls back to the $26,000 to $27,000 range. At the time of writing, Bitcoin is trading at $30,712.
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