A crypto strategist known for nailing the 2022 Bitcoin bottom says that BTC may be on the verge of igniting a parabolic surge.
In a new strategy session, pseudonymous analyst DonAlt tells his 66,600 YouTube subscribers that Bitcoin may be mirroring gold’s 2024 price action, when the precious metal struggled to clear resistance at $2,100 for multiple weeks before sparking a huge upside burst.
According to the analyst, Bitcoin is likely consolidating below $110,000 to set the stage for a breakout and a parabolic rally to new all-time high prices.
“Look at the $2,000-ish level [of gold]. This is the kind of asset we are now. If you expect anything else other than this, I think you’re just wrong…
You see that breakout level that got tested four times, and you [had] false breakouts… I mean [gold] didn’t move for the longest time, and then it just went up only forever, which is kind of nuts to observe.
But basically, I feel we’re that asset now, where you’re going to flirt with the same level like three or four times and people are going to lose all their money before it breaks out.”
At time of writing, gold is worth $3,368 while Bitcoin is trading for $102,114.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Generated Image: Midjourney