A well-known crypto trader who correctly predicted the market bottom in late 2022 remains optimistic about Bitcoin’s future but warns of potential short-term volatility.
In a recent analysis, the trader, known as DonAlt, reaffirmed his bullish outlook, suggesting Bitcoin is still on track for higher prices.
He pointed to the weekly chart, noting that BTC had recovered after briefly dipping below its trading range—a sign he views as bullish.
If Bitcoin closes above $90,000, he believes the uptrend remains intact, with a breakout above $104,000 potentially driving prices much higher.
Despite his overall optimism, DonAlt acknowledged weakness on the daily and monthly charts.
He noted that Bitcoin currently presents a strong short-trade opportunity around $90,000, with a stop near $95,000 and potential downside targets as low as $70,000.
As Bitcoin continues to consolidate above $100K, a critical market signal is flashing: BTC funding rates remain elevated, even as price action cools.
Billionaire investor Ray Dalio, founder of Bridgewater Associates, has suggested that a balanced investment portfolio should include up to 15% allocation to gold or Bitcoin, though he remains personally more inclined toward the traditional asset.
With Bitcoin hovering near $119,000, traders are weighing their next move carefully. The question dominating the market now is simple: Buy the dip or wait for a cleaner setup?
Bitcoin has officially reached the $116,000 milestone, a level previously forecasted by crypto services firm Matrixport using its proprietary seasonal modeling.