A crypto analyst who made a large purchase in November 2022, when Bitcoin (BTC) was trading at $ 16,000, reported that price targets have changed.
DonAlt says these levels are close, it’s too early to sell Bitcoin
cryptocoin.com As we have mentioned, DonAlt became an analyst who came to the fore with his accurate predictions. In November 2022, when FTX went bankrupt, he bought a large amount of BTC at $ 16,000 and made his first profit purchase at $ 25,000.
DonAlt says he is no longer considering selling Bitcoin at his next target of $35,000. He shared that he changed his investment strategy in the days when Bitcoin was trading above $ 27,000.
The popular crypto analyst said that the global acceptance that Bitcoin offers an alternative to the banking system is new and strong, and it may be premature to sell at current levels. In his most recent tweets, he also reported giving up his next target of $35,000:
Every time I think about taking a profit, I think about where to put that profit. There is nothing I would rather buy right now other than BTC and altcoins, nothing better tunes for the current macro situation than our little bubble.
I was originally planning to sell some for $35,000. Don’t think I’m going to do this anymore, I’ll just be a moon boy until I find a really good reason not to be. Until then I’ll ride this thing, no brakes.
“Banks are in great decline”
DonAlt thinks that analysts focused on the macro economy, who are waiting for the decline, will be empty-handed. According to the crypto analyst, Bitcoin now has a true story with its turbulent global sector. In his own words:
Banks are in huge decline. You can reveal your stupid RSI and trending as much as you want, I’m not selling. I can’t believe people are telling me not to buy it at $16,000 because of the macro. We’re almost 2 floors up from there and the macro is starting to change. It will probably be said not to sell due to favorable macro conditions at the top.
Banks are down huge
You can whip out your stupid RSI and trendiness all you want
I’m not selling
— DonAlt (@CryptoDonAlt) March 18, 2023
As for how high BTC can go, DonAlt predicts it could climb to $100,000 this cycle. The leading crypto is currently busy staying above $27,000, giving short traders little opportunity to take a position.
Short traders can step in at this level
BTC will attempt to reclaim $27,208 as its short-term price target. According to technical analysis, it could retest $27,757 or it could rally to $28.17k. Other key resistance levels are $28.65k and $29.51k.
Alternatively, short traders can load into leveraged positions if BTC closes below $27.21k. However, the bears need to break the resistances at $26,370 and $25,0700 to dampen the bullish sentiment.
According to current metrics, BTC’s currency flow balance was quite positive on March 17, showing that more BTC is flowing than going to exchanges, indicating increased selling pressure as BTC retests the previous resistance of $26.37k.
