A leading crypto strategist known for his timely Bitcoin calls outlines a price level at which he thinks BTC’s eight-month consolidation could come to an end.
Pseudonymous analyst DonAlt tells his 589,100 followers on social media platform X that he believes Bitcoin will gain more bullish momentum as it clears a crucial resistance area.
The trader also notes that it would be healthy for BTC to retest its immediate support before moving higher.
‘>$65,000 and I bet we finally escaped the endless problems
<$58,000 and grief awaits
>$61,700 is a good first step towards destroying $65,000
I am hopeful that we will go up after all these problems are over.”
At the time of writing, Bitcoin is trading at $62,663.
DonAlt also keeps a close eye on the top smart contract protocol Ethereum (ETH). According to the analyst, ETH appears to be forming an ascending triangle pattern – a bullish reversal structure as an asset clears its horizontal resistance.
“I’ll give it the triangle of the head.”
In a video update, DonAlt says ETH will start looking bullish as it rises above its horizontal resistance.
“Above $2,700 is enough, just like above $2,700 ETH starts to look really attractive. If not, even $2,500 if you really want to be aggressive.”
At the time of writing, Ethereum is worth $2,458.
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Generated image: Midjourney