A Top Trader Identifies Key Resistance Level for Bitcoin
A prominent trader in the crypto space predicts that Bitcoin (BTC) will experience a corrective move if it reaches a critical price level. The analyst, known as DonAlt, states that Bitcoin is approaching a strong resistance area. Once BTC hits its range resistance at around $58,000, DonAlt expects a swift pullback. He believes that this level would be an ideal spot to sell and anticipates heavy selling followed by a significant pullback, potentially towards $46,000 or even lower levels.
Strategic Accumulation of BTC
Despite the projected pullback, DonAlt reveals his strategy to accumulate Bitcoin during dips. However, he plans to do so only if BTC drops to a key high time frame support level in the low to mid $30,000s. He emphasizes that weekly and monthly support between $32,000 and $35,000 would be an excellent buying opportunity due to its significance and potential for a 30% to 40% pullback. At present, Bitcoin is trading at approximately $51,665.
Disclaimer: The information provided here is not investment advice; it is purely for informational purposes only. It should not be considered as an endorsement or recommendation to buy or sell any cryptocurrencies or digital assets.
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