Cryptocurrency analyst DonAlt, known for accurately predicting the 2023 crypto breakout, is optimistic about Bitcoin’s future despite its current consolidation phase. In a recent strategy session with his YouTube subscribers, DonAlt highlighted the resilience of BTC in the face of negative news, such as President Donald Trump reigniting trade war talks and considering annexing other countries.
While these headlines could have triggered a significant Bitcoin correction, the fact that BTC is still holding above $90,000 indicates to DonAlt that the bulls are in control and preparing for a potential rally. He acknowledges that from a technical analysis standpoint, Bitcoin may appear slightly bearish as long as it remains below $101,000 or the weekly mid-range around $98,000. However, given the strength of the uptrend and the lack of substantial sell-offs despite bearish news, DonAlt leans towards a bullish outlook.
Reflecting on the current market conditions, DonAlt expressed his surprise at the market’s resilience in the face of geopolitical uncertainties. He noted that even if similar events had occurred a few years ago, the market would have likely experienced a significant downturn. This resilience has led him to maintain a neutral stance while waiting for momentum to build or to lean towards a bullish outlook, despite the technical analysis not fully supporting it at the moment.
As of the latest update, Bitcoin is trading at $96,310, showing a slight decrease of 1.43% in the past day. DonAlt’s insights and analysis provide valuable perspective for investors navigating the volatile crypto market.
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By staying informed and following expert analysis like DonAlt’s, investors can make well-informed decisions in the ever-changing world of cryptocurrency.