Following the recent rally in the price of BTC, the crypto analyst who accurately predicted the top and bottom of bitcoin has shared another update regarding the performance of the leading crypto in the coming days.
According to him, it is going to be a bad run for crypto bears or market shorters, if they don’t switch their sentiments about the largest crypto asset by market cap, after the big crypto market rally. DanAlts, as he calls himself, expects BTC to maintain the uptrend momentum.
The pseudonymous TA expert who also doubles as a crypto coach wrote;
“Bulls gave back everything in the bear, then the traders did in the chop now it’s the bear’s turn. The interesting bit about the bears is that often times price only needs to go up 20-30% for them to lose it all. A bear market rally could wipe out almost all bears.”
“Technically in my mind, anything sub $30,000 is just a bear market rally. If you’re a bear and you’re not accounting for the possibility of $30,000 I think you’re going at it a little blue-eyed. We can just nuke but there is a non-zero chance we retest those levels in my opinion.”
Bulls gave back everything in the bear, then the traders did in the chop now it's the bear's turn.
The interesting bit about the bears is that often times price only needs to go up 20-30% for them to lose it all.
A bear market rally could wipe out almost all bears.
— DonAlt (@CryptoDonAlt) January 12, 2023
Speaking on altcoins, he noted that they may not keep up with BTC in the current market outlook. He wrote, “It’s maintaining boys. Alts not able to follow BTC on the run-up. Playing 1:1 how I expected it to which is kind of sweet. Another day like today after the weekend and we’ll see some fireworks in the crypto markets.”
DanAlts, who first shared his BTC chart analysis on January 4, projects that bitcoin would rally as high as $22,500 per coin and more in the near term before thinking of a retracement. Interestingly, BTC’s price action is moving as he analyzed, breaking all resistances.
I would like to spend my weekend in France.
Climbing the Eiffel Tower as we speak. pic.twitter.com/ovJd1w3HUM— DonAlt (@CryptoDonAlt) January 13, 2023
At the time of the tweet, BTC was trading at the $16,800 level but BTC since rallied to a high of $19,117 on Thursday and it’s still not looking weak. At press time, bitcoin is changing hands at $19,294.
About an hour ago, DanAlts wrote to his 450k Twitter followers saying, “We’re only 4% away from $20k. That means we just need to go up 4% more to make people think that maybe just maybe everything below $20k was a massive discount and that they botched it. A good narrative to push us to $30k.”
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