Bitcoin (BTC) could fall to levels that are registered last at the beginning of May if a large level of support does not hold, according to a crypto trader.
The trader Pseudonym known as Donalt tells 66,500 Subscribers of the Technicalroundup YouTube channel He leans Bearish at the crypto king based on his lecture by Bitcoin’s daily period.
According to the pseudonymous trader, Bitcoin from the current price could fall by a maximum of 15% if the BTC support level, which has been held so far since the Crypto Asset flagship reached a new all times of just under $ 112,000.
“If this support goes, this support between $ 98,000 and $ 101,000, I think you could see a nice fast move to $ 90,000 again.”
The pseudonymous trader says that the Bitcoin meeting to a new highest point of around $ 111,800 at the end of last month is a “false outbreak” based on the daily time. According to Donalt, “good breakouts” usually do not test earlier support levels.
“In short, all good breakouts have not been tested again … this one [at slightly under $112,000]A little different. That retest, which is a sign of a lack of momentum, a lack of urgency. “
However, the pseudonymous trader says that Bitcoin Bullish is more like the higher weekly and monthly time frames.
“This [weekly] The time frame is also bullish. However, it is less bullish than the monthly, I will say that.
This is a clean outbreak, this is fine, this is a strong graph on the monthly. The weekly, a little less but still good. “
Bitcoin acts at $ 105,713 at the time of writing.
https://www.youtube.com/watch?v=G10HBQonoxg
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