DonAlt, a skilled trader in the crypto markets, believes that the indecision zone of $30,000 offers the maximum risk and reward potential for bears trading on Bitcoin (BTC). According to him, should Bitcoin fail to break above this level and instead retest it as resistance, a deeper correction for BTC could be in sight.

The pseudonymous analyst expects Bitcoin to correct to as low as $20,000 where it will remain intrinsically bullish. DonAlt is also urging caution from leveraged traders as he states that the price of Bitcoin between $30,000 and $20,000 is false. He explains that this is the period in which the market is set to bleed out all of the leveraged traders and will have Bitcoin move toward either end of these boundaries as it attempts to do this.

At the moment, the world’s largest cryptocurrency is trading around the $28,000 mark. Though this is a large drop from its all-time highs earlier this year, DonAlt believes that Bitcoin will return to the pinnacle of its bull run soon if it manages to break out of the $30,000 price range. He has outlined a few possible scenarios where his expectation could come to fruition as Bitcoin could surge to as high as $55,000 by early 2022 or enter into a long accumulation period and fail to reach higher highs until late 2022 or 2023.



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