With bitcoin forming a double-peak before falling below $48,000 on December 28, some analysts suggested that it could drop to $44,000 before continuing its trend. Cryptoanalyst DonAlt, who is known for his 3 accurate predictions, has set a critical resistance level that will propel the bulls to a recovery of $60,000 for the price of bitcoin. Kryptokoin.com Let’s take a look at the current bitcoin analysis from DonAlt that we have compiled.
Analysts Expecting Bitcoin (BTC) Break Above $52,000
With 330,000 Twitter followers, Donalt discovered bitcoin at $6,100 on March 28, a 44% rally from early January, and a peak on February 12, when BTC rose above $10,300. In addition, the analyst has other predictions that hold. In its latest analysis, DonAlt published the chart below, which shows that Bitcoin is “quite a net downside for now.”
Don Alt added that there is not much to watch as BTC continues to trade in a range at these current levels. He expects a clear break above the first red resistance area near $52,000 on the above chart. Don Alt adds in his analysis:
I’m starting to cheer if bitcoin crosses $52,000, plus $60,000 opens up a raging bull run again. Until something like this happens, I’ll keep looking for a deeper light.
The total market cap of the cryptocurrency currently stands at $2,234 trillion, with Bitcoin dominating 40.7%. Analysts believe that each rally from $48,500 to $52,000 in Bitcoin’s current trading zone is a sign of strength towards $60,000.
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