While Bitcoin's rise above $ 29,000 brought to mind the question of whether $ 30,000 is on the way, its fall to $ 27,500 yesterday made investors nervous.
Cryptocurrency analyst, who came to the fore with his accurate prediction of the bottom price of Bitcoin in 2022 and used the nickname DonAlt, shared the levels he considers important in BTC.
Stating that he expects the rise in Bitcoin to continue in his video published yesterday, the analyst showed that the monthly and weekly charts of BTC are good as the reason for this.
Pointing out that $22,000-23,000 is important in Bitcoin, the analyst stated that if BTC falls below this level, the bullish scenario will be invalid.
“Bitcoin has been so good so far, right? Our purchases at $16,000 have almost doubled. And still, Bitcoin has a long way to go.
Bitcoin chart looks good monthly, if the last days go horribly wrong and we fall below $23,000 then we are screwed. But I don't expect that to happen.
As long as we realistically keep 22,000, the weekly looks good. However, if we fall below $22,000, the bullish scenario in BTC will be invalid and the rise will be wasted.”
However, if Bitcoin continues its upward momentum, the analyst stated that BTC's next target is $35,000.
Stating that the banking crisis is a strong support for Bitcoin and the crypto market, the analyst continued his words as follows:
“If bitcoin continues its upward movement, the next resistance is $35,000, so this is the target.
The banking crisis and bailouts are basically the most positive thing you can have for crypto. That's why crypto exists.
We also have the 2024 halving event. With Bitcoin's strong stance, the halving was a good combination."
*Not investment advice.