A veteran crypto trader says Bitcoin (BTC) is one crucial level away from hitting new all-time highs.
Pseudonymous trader DonAlt shares a chart with his 578,000 followers on social media platform
“In my opinion, the weekly is the only thing standing in the way of new record highs. I’ve decided to just ignore it, even though it’s usually my favorite time frame.
This is why I went bull at $58,000 as I hated opening new longs at this resistance. Close your eyes, pray, cut if there is less than $58,000.
With BTC above the $64,000 mark, DonAlt say new positions must remain “nimble” as price action is likely to become more unpredictable.
Bitcoin is worth $64,296 at the time of writing.
Looking at the altcoin market, DonAlt says that Ethereum (ETH) rival Solana (SOL) appears to be shifting into a bullish phase after successfully returning from a long-term support level.
“SOL being the altcoin market leader in this cycle hugging support was one of the things that made me worry about whether my statement was correct.
This power makes me less worried.
I just have to keep my strength up until next week and it seems like the tides are changing.”
At the time of writing, Solana is trading at $158.
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Generated image: Midjourney