An analyst renowned for capitalizing on the crypto surge in 2023 believes that Bitcoin’s current period of consolidation will conclude with BTC bulls celebrating a significant win.
During a strategy session, the pseudonymous analyst DonAlt shared with his 65,700 YouTube followers that BTC bears had multiple opportunities to push prices lower in recent weeks, especially after President Donald Trump reignited trade war discussions and contemplated the acquisition of other nations.
The crypto strategist points out that any of these headlines could have prompted a more substantial correction for Bitcoin. However, DonAlt expresses confidence in Bitcoin’s potential, stating that the fact BTC is still trading above $90,000 amidst a barrage of negative news indicates it is poised for even higher value.
“I’m not bearish. My intuition is that this will resolve positively, yet I recognize that so long as we remain below $101,000 or around the weekly mid-range [approximately $98,000], technical analysis suggests a slightly bearish stance.”
“I just don’t feel it’s definitive, particularly considering the strength of the uptrend juxtaposed with the weakness of the sell-off, especially given Trump’s aggressive discourse on tariffs, and his comments about annexing Canada [and] Greenland…”
“You could compile a list, and if you presented any of these issues to me two or three years ago, I would have said, ‘The market is dead, you know.’”
“But, nothing has transpired. It’s hardly resulted in any sell-off, making it challenging for me to be overly bearish. I think it’s generally wise to either maintain neutrality and wait for momentum or adopt a bullish outlook, even though the technical analysis might not be overly bullish right now.”
As of now, Bitcoin is trading at $96,310, reflecting a decrease of 1.43% over the past day.
Stay Updated – Subscribe for email alerts sent directly to your inbox
Check Price Moves
Follow us on X, Facebook, and Telegram
Explore The Daily Hodl Mix
Disclaimer: The views expressed at The Daily Hodl do not constitute investment advice. Investors should conduct their own research before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transactions and investments are made at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisory service. Note that The Daily Hodl engages in affiliate marketing.
Generated Image: Midjourney
