According to DonAlt’s analysis, both Bitcoin and Ethereum could experience significant price movements in the coming period. The long-awaited movement could begin with BTC breaking the $65,000 level, while ETH is also likely to show an impressive performance if it passes through critical resistance points.
Known for his predictions in the cryptocurrency world, DonAlt draws attention especially with his analysis on Bitcoin (BTC). This strategist, who has attracted the attention of many investors with his accurate predictions in the past, argues that BTC is nearing the end of its eight-month consolidation period. DonAlt states that the exit from this process can be possible by exceeding certain price levels and that Bitcoin is at a critical point. While emphasizing that some important levels need to be broken in order for the market to escape stagnation, he states that investors should be careful as well as hopeful.
DonAlt emphasizes that the $65,000 level is a vital resistance zone for Bitcoin. If Bitcoin manages to break through this level, he suggests that the cryptocurrency will gain more upward momentum. According to the analyst, Bitcoin breaking through this point will be a strong sign that the sideways movement that has been going on for months will end. This could mean the start of the long-awaited movement in the BTC market. However, DonAlt also reminds that despite the expectation of an upward movement, BTC still faces some risks. In particular, a drop below $58,000 could lead to a negative scenario in the market. In the event of falling below this level, investors may face a difficult process. DonAlt states that if Bitcoin cannot maintain this point, a pullback may occur in the market and this could pose a risk for investors. For this reason, he emphasizes that BTC's critical support and resistance levels should be monitored carefully.
The strategist notes that the $61,700 level is also an important intermediate level for Bitcoin. If BTC can break above this level, it will be a significant step towards breaking $65,000. This level could signal a momentum gain in the market and cause investors to reevaluate their positions. DonAlt believes that all of these technical levels are critical and how the market reacts to these price points will determine the future direction.
Why are technical levels important in Bitcoin? Whether or not Bitcoin will break out of its consolidation period has a big impact on the general direction of the market. Long-term sideways price movements can often be a sign of a strong trend. Therefore, it is a matter of great curiosity how BTC will complete this period. In technical analysis, monitoring resistance and support levels provides important information about the future movements of the market. Analysts such as DonAlt state that if these levels are exceeded, it can pave the way for major price movements. Therefore, such analyses are very valuable for investors.
Bitcoin is not the only asset DonAlt follows; Ethereum (ETH) is also on the strategist’s radar. DonAlt states that Ethereum has created an interesting technical formation. When looking at ETH’s price movements, the analyst states that he sees a triangle formation that shows an upward trend, and thinks that this formation may indicate a positive expectation in the market.
