A popular crypto analyst says he’s looking at the two potential scenarios for Bitcoin as the king crypto struggles below $50,000.
The pseudonymous trader, known as DonAlt, mentions on the Weekly Open that Bitcoin remains bullish as long as it stays above a key level.
“The weekly [chart] is still bullish as long as you’re holding $45,000, and the daily is still bullish.”
DonAlt asserts if Bitcoin breaches the key support area, it will likely accelerate down to around $40,000. If that level breaks, he says BTC will “completely roll over.” If it holds, he predicts Bitcoin will launch the second leg in the bullish direction.
But for now, DonAlt is waiting for the market to give him more signals that would indicate whether there’s a larger shift in Bitcoin’s trend.
“So if you want to be super bearish, I think it’s still sane to wait for, let’s say if we lose $45,000 on the weekly and start