A crypto strategist who piloted Bitcoin’s 2023 breakthrough warns that BTC risks seeing a significant correction if it fails to surpass $100,000.
Pseudonymous analyst DonAlt tells his 63,000 YouTube subscribers that Bitcoin will likely rebound if it returns to $90,000.
But the analyst warns that a correction now would put BTC in a position to see more price declines.
“I think if it comes back to $90,000 in any form, you’ll gain some strength there… But like I said, I don’t think that would necessarily be good for price action at short term.
I think if you get to $89,000 you can get to $94,000 after maybe $95,000 and then I think you’ll probably go back down.
The analyst notes that his Bitcoin outlook would be different if BTC first surpassed $100,000 before undergoing a significant retracement.
“What you want to see, basically, is for this thing to continue. If you go back to $120,000 or whatever, maybe the price will drop to $90,000 and then I would say something different. Then I was like, Hey, this is a really good area compared to everything else we have on the map. »
And then maybe it doesn’t just make the high lower, but it actually really…
Otherwise, I think the level ($90,000) will only be a hurdle before reaching the $80,000 mark.
At the time of writing, BTC is trading at $94,245.
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