In a most alarming turn of events, a trader of some repute, who rather astutely predicted the crypto nadir back in the balmy days of November 2022, now warns that Bitcoin (BTC) teeters precariously on the brink of a downward spiral. One can only imagine the thrill of such a revelation!
In a rather riveting video, the trader, who prefers to remain cloaked in the anonymity of the moniker DonAlt, regales his 66,200 subscribers on the TechnicalRoundup YouTube channel with tales of Bitcoin’s high-risk escapades. It appears our dear Bitcoin is not merely flirting with danger; it is practically dancing with it! 💃
“But we’re still in danger territory. I don’t want to bull talk too much while we are in the area where we can get rejected easily.” Ah, the delicate art of crypto diplomacy!
Our analyst posits that Bitcoin may be on the cusp of a cataclysmic collapse at its current price levels, or, in a fit of optimism, it might just flirt with the $90,000 mark before succumbing to the inevitable gravitational pull of resistance. One can only hope for a brief dalliance with such heights before the inevitable plunge! 🎢
“For the bears, you can make an argument that this is as good as it gets of an area. Because, honestly, if this doesn’t get rejected here [in the mid-$80,000s], where is it going to? You can obviously hope for a wick towards $90,000, $91,000. I think that would be the only real acceptable bearish setup to take.” Ah, the sweet scent of bearish conviction wafting through the air!
Yet, in a twist worthy of a Dickensian novel, our analyst suggests that Bitcoin might just cling to its bullish cycle, regaining a six-figure value should the macroeconomic winds shift favorably. How delightful! 🌬️
“I think the best course of action is a close above $90,000. Like, we start doing this, poke our head back above $90,000 favorably. Obviously, if the macro situation changes alongside with it, I think the next candle is going to be like this [to around $95,000]. And then the next candle is going to be like that [at around $102,000]. And then we’re going to trade at $110,000-$120,000.” Such optimism! One can almost hear the champagne corks popping in anticipation!
“So basically, the moment we get back above $90,000, there’s a decent setup, stop loss down here [at $77,000], entry somewhere there [at around $90,000], and then the target above $110,000 into maybe $120,000-$130,000. That’s kind of the best setup that I see for the bulls.” A veritable roadmap to riches, if one can navigate the treacherous waters of crypto!
As of this very moment, Bitcoin is trading at a modest $82,788, having taken a slight tumble of 2.1% in the last 24 hours. One can only hope it finds its footing soon!
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2025-04-04 10:22