Technical analyst DonAlt provides insights on Bitcoin price levels
Technical analyst DonAlt, known for predicting the significant downturn in the cryptocurrency market during 2022, emphasizes the importance of monitoring Bitcoin’s current price levels. While he acknowledges that Bitcoin 
$84,173 has potential for short-term upward movement, he warns that strong resistance could lead to sharp declines. His insights, based on technical indicators, suggest that caution is essential for market participants as the market currently resides in a “danger zone,” where price swings can occur in either direction.
Resistance Levels and Possible Scenarios for Bitcoin
According to DonAlt, Bitcoin is hovering around an important technical threshold at approximately $82,788. This price level has previously marked significant price reversals. He cautions against excessive optimism, stating, “We are still in the danger zone. I don’t want to be overly optimistic while we are in an area that can easily be rejected.”
A key point in technical analysis is that if Bitcoin fails to maintain its current price, it could face a downward correction. Especially mid-range resistance areas may provide fertile ground for price declines. DonAlt advises bearish investors, suggesting, “If you’re on the bear side, this may be the best opportunity. If it doesn’t get rejected here, where else will it?” This perspective indicates that if Bitcoin encounters resistance in this zone, a drop to around $70,000 could be realistic.
Focus on the $90,000 Level for Upside Potential
However, DonAlt also notes that a favorable macroeconomic environment combined with technical breakouts could allow Bitcoin to gain momentum once again. A daily close above $90,000 could signal the onset of a new upward wave in the market. He posits that should this scenario materialize, potential targets could include $95,000, $102,000, and ultimately the $110,000-120,000 range.
This bullish scenario is bolstered by price movements as well as overall market sentiment and economic developments. According to DonAlt, surpassing these levels would mean Bitcoin reaching the psychological threshold of six figures is merely a matter of time. However, with current fragile balances, determining a definitive direction remains challenging. Both technical indicators and external factors will play central roles in determining Bitcoin’s trajectory.
Staying Cautious Amid Ongoing Uncertainty
For investors, the critical issue is accurately interpreting how the market will evolve based on these technical assessments. In this period where both bearish and bullish scenarios are possible, careful attention must be paid to resistance and support levels. DonAlt’s analyses indicate not only short-term volatility but also hint at long-term potential.
With high volatility in the cryptocurrency market, technical signals and market psychology continue to influence investment decisions decisively. Every move made in the current climate could substantially impact investors’ profit or loss positions. Therefore, both technical data and macro developments should be closely monitored, and strategies should be reviewed to account for all possibilities.
