CandleFocus Top Analyst Says Bitcoin Bulls in ‘Dangerous’ Position, Warns BTC Flush-Out Scenario on the Table
2024-11-03
Author: Content Editor
The analyst DonAlt is warning that Bitcoin is at risk of dropping to $50,000, stating that a weekly close below $70,000 could trigger a wave of liquidations. He argues that the recent rise in BTC's price is due to traders hoping for a Trump victory, and if BTC struggles to sustain its rally, these positions may be liquidated. DonAlt takes this signal seriously and suggests that if there is weakness in the market, BTC could drop into the lower $60,000s or even $50,000 again. At the time of writing, Bitcoin is trading at $69,379, just below the $70,000 level.
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