Bitcoin Analyst Predicts Bullish Momentum After Breaking $44,000 Resistance
Date: 2024-01-29 Author: Dima Zakharov Categories: BLOCKCHAIN
Cryptocurrency enthusiasts have been closely monitoring the price movements of Bitcoin, especially after it slipped below the $40,000 mark last week. DonAlt, a respected trader known for his successful 2023 crypto market predictions, offered his perspective during a recent YouTube session.
Despite the rollercoaster ride driven by exchange-traded Bitcoin funds (ETFs) and the attention they've attracted, DonAlt expressed optimism about Bitcoin's outlook. He pointed out that the absence of massive BTC sell-offs is a positive sign for the crypto kingpin.
"I'm liking the price action in recent days. Given how ETFs and news-driven selling typically play out, it's reasonable to expect prices to go down. But they haven't, and every time there's news encouraging selling, you just see massive volume," DonAlt noted.
For this reason, he no longer bears a bearish stance on Bitcoin and now aligns with the bullish camp. DonAlt also emphasized that Bitcoin is consolidating within a strong upward trend and is likely to regain its bullish momentum once it clears the $44,000 resistance level. As the crypto community eagerly awaits further developments, Bitcoin's resilience continues to capture attention and fuel discussions within the industry.
