Crypto Analyst Warns Traders: Consider Selling Bitcoin

A pseudonymous trader DonAlt, who bought Bitcoin at its bottom in November, is considering selling and taking a profit.

[{"selector":"#anim-0b3d80bb-637d-4426-9a39-bf2c5f36a867","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d4a20ee8-5a7e-4f60-aa77-bedb529c4f2a","keyframes":{"transform":["rotate(-360deg) translate3d(0px, 165.43213%, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

He notes that the market has been acting as it did in 2020, with BTC showing strength and quickly recovering after every dip.

[{"selector":"#anim-2dc3659a-0d19-4ff9-9e80-da709ebe8c5b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1545e4c7-13a0-48d0-a0de-d85d66f65351","keyframes":{"transform":["rotate(-360deg) translate3d(0px, 165.43213%, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

However, he has mapped out a consolidation zone at about $30,000 as a point where he’ll consider lowering his exposure.

[{"selector":"#anim-4f0e83e8-cadd-4c89-8b35-88adad714306","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9dccc330-c9eb-4ef0-b329-6ea1438d3c09","keyframes":{"transform":["rotate(-360deg) translate3d(0px, 163.34878%, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

He was bullish at $16,000, $19,000, and $20,000, but mid-$20,000s to low $30,000s is where he thinks you start running into trouble.

[{"selector":"#anim-d077e0e9-92b4-43bb-8c96-3d47cebd9d9e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6dae8bce-1da8-4ae6-a9d5-3fc1ca1c8c81","keyframes":{"transform":["rotate(-360deg) translate3d(0px, 143.48105%, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

If Bitcoin can crack $32,000, anything goes, and it becomes challenging to trade other than just hold.

[{"selector":"#anim-38f3d820-5c1c-4306-9c9f-0f12bdafd4a7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-31ae16e9-d82f-4a0e-96e9-e836dc3c5445","keyframes":{"transform":["rotate(-360deg) translate3d(0px, 193.29497%, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]