The pseudonymous DonAlt, who perfectly predicted the bottom for Bitcoin in 2022, is extremely bullish about the future based on the chart. DonAlt informs his 473,500 followers on Twitter that Bitcoin could soon rise by 32 percent from its current value of $28,586.
Strong, despite bad news
In a new analysis, DonAlt shares that he thinks Bitcoin is strong right now, despite a bucketful of bad news rolling out about the industry. “In general, things look absurdly good at the moment. It’s kind of funny how last week’s negative rumors and panic on Twitter don’t even show up on the chart. It just goes to show that most people zoom in way too much,” said DonAlt.
So he himself looks more at the long term and DonAlt is not guided by the sentiment in the short term. That can certainly be very treacherous in the Bitcoin market. The only thing that can change his mind about this is additional misery regarding Binance.
If they get serious problems with the case of the Commodity Futures Trading Commission (CFTC), it can certainly depress the market, according to DonAlt. Until then, however, he thinks it will be fine and Bitcoin must at least hold the price of $ 26,500 to keep it that way.
Bitcoin price of $37,700
If DonAlt looks up, the $37,700 price is an interesting target for him right now. However, the first major resistance, he says, is at $28,900, which is still quite far from that price of $40,000.
We find the first support at $ 28,000. If it breaks, he believes it is possible that we will fall towards $ 25,200. That would put an end to Bitcoin’s bullish momentum for the time being.
So in the event of a new breakout, his eyes will be focused on the price of $ 37,700. That would be fantastic for Bitcoin, but it’s a long way off. Let’s first break through that $ 30,000 with conviction that the bulls have been preying on for some time.