It has been revealed the fact that Bitcoin is about to race to $90k. Check out the latest reports about this prediction below.
Trader predicts BTC explosion
A crypto trader, who has a record of accurately predicting Bitcoin’s market trends, has recently shared his roadmap for Bitcoin to reach a price of $90,000. In a strategy session, crypto analyst DonAlt explained to his 56,400 YouTube subscribers that if spot market Bitcoin exchange-traded funds (ETFs) are approved, BTC will rise steadily towards the resistance level at $60,000.
DonAlt also predicts a quick and aggressive correction after Bitcoin hits $60,000. However, he also believes that there will be a subsequent rally that will push BTC to as high as $90,000.
“The positive interpretation [of the BTC ETF approvals]: we go to $60,000. I think in general that would get a bunch of people very hyped up. It’s an old resistance level that’s been tested twice before.
So I could see a lot of people be in the camp that, ‘Hey, we tested this a bunch of times before, we’re going to break out,’ and disrespect it and go into it with leverage… Bitcoin would be at that point quite far extended. So I could see that be a nice pullback area.
If you go straight up, I think $60,000 would be a really good resistance… I think that pullback would be quite aggressive, quite quick and one that you absolutely should be buying…
If we hit $60,000, any pullback that you get should be a buy because at that point, we have tested $60,000 three times. I think then on the next test it wouldn’t hold and then you would go to $70,000, $80,000 [or] $90,000.”
According to DonAlt, if the market turns bearish, Bitcoin could drop to its high time frame support of approximately $35,000 in the upcoming months. DonAlt stated that, with the ETF now approved, he can start analyzing the chart again.
He is currently on a break, but he may become active again if Bitcoin either retests $35,000 or $45,000 (after a move-up) in the next three months. If Bitcoin simply moves straight up, DonAlt will have to wait a little longer.
