Trader Who Accurately Nailed Bitcoin’s 2022 Bottom Says He Will Re-Enter Market When BTC Hits This Level
A top crypto analyst is unveiling when he could resume Bitcoin (BTC) trading activity amid a market downturn.
Pseudonymous analyst DonAlt tells 51,200 subscribers of the TechnicalRoundup YouTube channel that BTC needs to get back above the $27,500 price level for him to trade the flagship crypto asset and altcoins.
“The way it’s trading right now, I want to see some strength. At least a little bit.
You show me Bitcoin trading above $27,500, I’m down to trade it again. And I’m going to trade altcoins again.
But while this [Bitcoin] is kind of like dragging its feet consolidating at the lows, you don’t get me too excited about any other thing in the market.”
Bitcoin is changing hands at $24,871 at time of writing.
DonAlt also says that Bitcoin’s performance and the outcome of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple will determine the price action of XRP going forward.
“Even if XRP wins the case, if Bitcoin is just like on the edge of a cliff, there’s a good chance that the XRP candle is going to look like this basically [surge beyond the current resistance level of $0.55 before plunging below the same resistance level] and then come back here. And that’s if they win.
And if it’s a 50-50 and if they lose, it just goes straight down. And if Bitcoin goes down, it’s going to go doubly down.”
Turning to Litecoin (LTC), the pseudonymous analyst and trader says,
“I’ve been trading Litecoin and it’s been outperforming almost any other coin during like the choppy times. But it’s getting too close to halving. So right now, I’m not interested in touching it.”
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Trader Who Accurately Nailed Bitcoin’s 2022 Bottom Says He Will Re-Enter Market When BTC Hits This Level appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
