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The Market Guru Saying “I WAITING FOR BITCOIN TO CLOSE” Counted 3 Reasons!
Cryptocurrency analyst and trader DonAlt, who made big gains by taking positions by stating that Bitcoin hit the bottom in November of 2022, counted three reasons, saying that he expects the biggest crypto currency decline. Here are the 3 factors that made the analyst expect a collapse in BTC.
3 Reasons for the Decline Pointed by the Analyst
Anonymous crypto analyst DonAlt warned investors, saying his gut feeling was that Bitcoin would crash. “Honestly, my gut tells me we're going to be bombarded,” the analyst said. It's taking too long to rise, the S&P 500 index has resisted and now things seem to be getting rough. All this leads me to think that there will be a fall. I may be wrong about my instincts as I don't have a position and haven't been following the market much lately. So for now I'm just watching the technical data and all I can say is they are neutral right now.” said.
Detailing his bearish prediction in a TechnicalRoundup video, DonAlt stated that spot Bitcoin exchange-traded fund (ETF) applications by giant Wall Street companies like BlackRock to the US Securities and Exchange Commission (SEC) are already a catalyst that should trigger a rally:
-Bitcoin is currently accumulating just above the resistance level. The problem I see here is that the ETF narrative is big enough news to have to rally already and for some reason it hasn't rally yet. Frankly, this worries me.
“29 Thousand Dollars Support Should Be Protected”
According to the analyst, Bitcoin must maintain the support level at $ 29,000 in order not to collapse. According to him, any break from the level may result in a sharp fall.
-Bitcoin will look good as long as it stays above $29k based on daily candle close. However, if there is a candle closing below this level, things will get worse. As long as the level of 29 thousand dollars is maintained, everything is fine, there is nothing to complain about. If this support level is lost, I expect a sharp drop.
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