Bulls Are Racing Towards Bitcoin, Important Trader Gives New Numbers

It has been just revealed that an important trader is really optimistic about the price of Bitcoin these days. Check out the latest reports and find out the new figures that are reportedly in store for the most important coin out there.

According to an analyst known as DonAlt, who accurately predicted the end of last year’s bear market, Bitcoin (BTC) is very close to breaking through a key resistance level that could trigger a major surge in its value.

DonAlt shares his thoughts with his 508,100 followers on X, stating that if BTC manages to break through the $28,000 resistance level, it could skyrocket to as high as $42,000.

However, if the bears manage to hold the resistance level, Bitcoin’s value may plummet. Therefore, it is a critical moment for BTC and its investors.

In a recent YouTube strategy session, DonAlt shared his optimistic outlook on BTC as it approaches the $28,000 mark. Despite Bitcoin’s promising price action, the analyst notes that many crypto traders remain bearish.

After analyzing the charts, DonAlt observes a positive trend in Bitcoin’s price action, but is surprised to find that the sentiment among traders is still quite bearish.

He highlights a daily breakout on October 1st, marked by a significant upward candle, which many struggled to explain.

“I think ever since then we’ve been consolidating around this $28,000 level and for me $28,000, just based on weekly resistance, [is] the only real resistance I care about. The fact that we have been stuck to it for so long actually has me a little bit excited.”

It is also important that we note the fact that the trader is currently bullish on BTC, and he notes that failure to break above $28,000 will likely lead to a massive sell-off event.

“If this breaks up, we’ll get a huge move. If it breaks down, we’ll probably go towards $23,000-$20,000.”