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
