As the price of bitcoin (BTC) closed another week in the $18,000-$21,000 range, speculation about its next big move is rife.
Cap on a downward trend in bitcoin (BTC)?
For several weeks, more and more crypto market analysts believe that bitcoin (BTC) is about to rise. The range in which the flagship crypto is found is, for many, akin to a zone of indecision. This should lead to an upward breakthrough of BTC. But analyst DonAlt issued a Bell Sound different, in a new video on his YouTube account.
For him, the latest rally in bitcoin (BTC) price could be the last step before another major bearish impulse. He explained that the support at $18,000, which has supported the price since the beginning of last summer, is unlikely to hold if the bulls fail to sustain the price’s current ascent.
“I don’t think the support is strong yet. So basically if you are bullish you are going to have to pray that this resistance at $21,000 is broken. You have to break it. If you are bearish, if you have sold on resistance, you have a fairly clean entry, and you can bet on a collapse based on the fact that for once we had a small impulse (…) For my part, this is the last impulse we will have from this level”he explained.
In its further development, crypto analysis tempered its remarks, indicating that bulls can still invalidate its thesis. In this case, he sees bitcoin (BTC) sign a rally to reach $29,000. Be that as it may, DonAlt, joins a select group of crypto analysts, who predict a fall in the price of bitcoin (BTC). Some like Nicholas Merten, founder of DataDash, recently predicted that BTC will soon trade at $14,000.
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