Tone Vays
Latest News

DonAlt, Top Crypto Strategist Insists That Bitcoin Is Bullish Until Proven Otherwise

The popular trader and crypto strategist, DonAlt explains why he’s bullish on bitcoin. More so, he’s a staunch believer on the price action going in his favour, until proving otherwise.

However, DonAlt warns that BTC is currently facing a weak resistance area. While checking from the weekly timeframe as the flagship keeps trading above $50,000.

“For me, you can argue that this is one [resistance at $60,000]. But for me,..”
“…this has been tested so many times… I think there’s a good chance that we get…”
“…checked here for a time, but I don’t think it’s going to hold longer-term…”
DonAlt continues,

“…So I’m just going to remain bullish until I see weakness. Right now,..”
“…I don’t really see too much of any kind of weakness. So [I’m] bullish until proven otherwise.”

Furthermore, considering the daily timeframe, its a clear moon path for BTC bullish run. DonAlt goes on to explain.

“Right now, on the daily [timeframe], there’s no resistance left in my opinion,..”
“..which is pretty good. As long as we’re holding the lower $50,000s, even…”
“…the short timeframes look stupidly bullish.”

Lastly, DonAlt explains the only thing that’ll make him change his belief is a 20% correction from Bitcoin’s current value of $54,675.

“Anything above here is bullish in my view. So anything above $44,000 and that’s quite a bit away now…”
That invalidation hasn’t changed… If you start going back down there then you have lows ($40,000)…”
“…that have been tested [a] bunch of times. I don’t think those would hold again.”
DonAlt concludes

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.