A widely followed crypto analyst who called the crypto bottom in November of 2022 says he has re-entered the market with a new long position on Bitcoin (BTC).
The analyst pseudonymously known as DonAlt tells his 509,700 followers on the social media platform X that he entered a long position on Bitcoin at approximately $27,000.
DonAlt says his bullish thesis will be invalidated if BTC falls to approximately $24,000.
Fellow trader Credible Crypto is also bullish on Bitcoin. The analyst tells his 346,800 followers on the social media platform X that Bitcoin has “launched” after appreciating by slightly over 10% since the start of the week.
“Keeping it as simple as it can get:
The same way $26,800 was the origin of our last impulse, $28,600 is now the origin of the current one. Above that, we are going A LOT higher, FAST.
Drop below $28,600 and the local uptrend will be violated and we may get a bit of a pullback, but until then, STRAP IN!”
On the fate of altcoins amid a rallying Bitcoin, Credible Crypto says,
“The black hole is coming. All the liquidity that is holding your precious altcoins up right now will be absorbed into daddy BTC soon. Relief for altcoins comes with a break of new highs, and then they will shine.
But first, make way for the king.”
Bitcoin is trading at $29,500 at time of writing.
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Author: Mark Emem
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