Crypto Strategist Analyzes Bitcoin Correction

A crypto strategist known for predicting the 2022 Bitcoin bottom believes the ongoing correction will peak once Bitcoin (BTC) reaches a crucial price level.

In a strategy session, the pseudonymous analyst DonAlt, who has 65,900 YouTube subscribers, remains bullish on Bitcoin. However, he anticipates that BTC may experience a 30% decline before finding a bottom.

According to DonAlt, the $80,000 range lacks support for BTC. He is waiting for the cryptocurrency to either fall to the $60,000 range or recover the $90,000 level as support before taking further risks.

> “If we dip into the $60,000 to $70,000 monthly area, the move will be overdone, and I might consider leveraging again. Right now, at $80,000, we’re in the middle of nowhere on the monthly timeframe. There’s technically still a bullish sentiment, but support isn’t confirmed.”

DonAlt is not in a hurry to invest further. He suggests waiting to see if BTC shows strength in previous consolidation levels before increasing risk, advising patience until more information is available.

At the time of writing, BTC is trading at $87,155.

Source: DonAlt/YouTube