2023 Crypto Breakout: Top Trader Predicts Bitcoin (BTC) Path to $90,000
A crypto trader who accurately called Bitcoin’s 2022 market bottom is laying out a roadmap for BTC to reach a price tag of $90,000.
In a new strategy session, top crypto analyst DonAlt tells his 56,400 YouTube subscribers that in a bullish scenario following the approval of spot market Bitcoin exchange-traded funds (ETFs), BTC will not look back and go straight toward resistance at $60,000.
DonAlt says BTC will likely witness a corrective move after hitting $60,000 and notes that the correction will likely be quick and aggressive. Following the pullback, DonAlt predicts a subsequent rally that will push BTC to as high as $90,000.
“The positive interpretation [of the BTC ETF approvals]: we go to $60,000. I think in general that would get a bunch of people very hyped up. It’s an old resistance level that’s been tested twice before.
So I could see a lot of people be in the camp that, ‘Hey, we tested this a bunch of times before, we’re going to break out,’ and disrespect it and go into it with leverage… Bitcoin would be at that point quite far extended. So I could see that be a nice pullback area.
If you go straight up, I think $60,000 would be a really good resistance… I think that pullback would be quite aggressive, quite quick and one that you absolutely should be buying…
If we hit $60,000, any pullback that you get should be a buy because at that point, we have tested $60,000 three times. I think then on the next test it wouldn’t hold and then you would go to $70,000, $80,000 [or] $90,000.”
In a bearish scenario, DonAlt sees Bitcoin plunging to its high time frame support at around $35,000 in the coming months.
“Now that the ETF is through, we can finally start considering levels on the chart again. I’m still on break but if we either retest ~$35,000 or $45,000 (after a move-up) in the next three months, I could be convinced to get active again. Straight up and I’d have to wait a bit longer.”
At time of writing, Bitcoin is worth $42,601.
I
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
#Top #Trader #Caught #Crypto #Breakout #Lays #Bitcoin #BTC #Path
