A crypto trader who managed to fully catch the uptrend from the bottom of 2022 shares an update on the current situation in a new video. It is about DonAlt, who tells his 48,500 subscribers on YouTube that he is extremely bullish if Bitcoin falls back to the price of $19,000 to $20,000.
Support is at $19,000 to $20,000
If we are to believe the pseudonymous trader, there is still some support for Bitcoin at $19,000 on the monthly chart. “There is still some room on the monthly chart. Technically, support is at $19,000 to $20,000. That’s where I get very, very bullish again. But we’re not there yet. I’m in my position, so I take my loss like the rest. I sold the top at $25,000 and then bought back at $23,000.
At the time of writing, Bitcoin is trading at $19,925 and the price is struggling tremendously. Bitcoin lost 8.18 percent over the past 24 hours and even 11.15 percent over the last seven days. In that respect, the project has been in better shape.
According to DonAlt, Bitcoin could begin a rally towards $35,000 if it manages to break above the $23,500 resistance. “There is good resistance here at the $22,000, $23,000 and $23,500. Support is at $19,000 to $20,000,” said DonAlt. We are currently at a crucial level for the price in that respect.
Repurchase from $23,000
According to DonAlt, the best price to re-enter is at $23,000. If Bitcoin manages to reclaim it, he believes there is a good chance that we will see an uptick to $ 30,000. For now, however, that seems a more than difficult task, because there are huge red numbers on the signs.
Not only Bitcoin, but also Ethereum and the rest of the market are struggling. For example, Ethereum is trading at $1,400 and is down 8.39 percent for the past 24 hours.
Only the stablecoins trade sideways, but of course they are made for that. Last week, the US dollar was the best financial instrument to hide from all the misery that we are currently experiencing again.
