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.
He notes that the market has been acting as it did in 2020, with BTC showing strength and quickly recovering after every dip.
However, he has mapped out a consolidation zone at about $30,000 as a point where he’ll consider lowering his exposure.
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.
If Bitcoin can crack $32,000, anything goes, and it becomes challenging to trade other than just hold.