Crypto strategist DonAlt believes that Bitcoin is poised for a fresh bull run, with technical conditions indicating a potential upward movement. He suggests that the recent correction in August, which brought BTC below $50,000, has served as a leverage flush out and could now pave the way for an extended bear market if Bitcoin fails to show strength. DonAlt highlights that breaking the support at $58,000 would be a concerning sign, but he believes there is a higher chance of Bitcoin moving upwards. He also identifies $68,000 as a key level for Bitcoin bulls, and if breached, expects a breakout. However, at the time of writing, Bitcoin is trading at $63,244, experiencing a 2% decline.
- Content Editor ( dailyhodl.com )
- 2024-10-01
Top Analyst Warns Bitcoin Could See Lengthier Bear Market if BTC Fails To Rally Now – Here’s Why