The Bitcoin (BTC) course continues to fluctuate, but according to the well-known crypto analyst Donalt there are two concrete conditions that can trigger an unexpectedly strong increase. At the moment the market has difficulty holding Bullish Momentum, but if these scenarios occur, Bitcoin can make a surprising rally.
The crucial price level of $ 90,000
According to Donalt, Bitcoin has to reach the $ 90,000 limit again and convert it into a solid support zone. This level earlier acted as an important tipping point, and a successful reconquest could restore trust in the market. Whether this happens on the daily, weekly or monthly graph does not matter, as long as Bitcoin stays convincingly above it.
The current price level of $ 82,651 shows that Bitcoin still has to do work. Until this scenario occurs, sellers prevail and there is an increased risk of further falls.
In addition to technical factors, geopolitics also plays a major role. Donalt states that President Donald Trump’s statements have a negative influence on the broader financial markets. In particular, threats about import duties towards China, Canada and Mexico cause uncertainty. This not only presses stock prices, but can also weaken the sentiment around Bitcoin.
According to Donalt, if Trump modows his tone and the markets recover, it can be an extra catalyst for a new Bitcoin rally.
Macro and technical signals indicate weakness
Until these two conditions are met, Donalt Bitcoin still sees in a weak position. The current price promotion confirms a ‘Range Breakdown’, in which Bitcoin has fallen from an earlier support area and does not show strong purchase signals. This fits within a broader macroeconomic picture in which investors remain reluctant.
Yet the situation also offers opportunities. Historically, Bitcoin responds strongly to important technical levels, and if the market stabilizes, a sudden bullish movement can quickly become reality.
For the time being, Bitcoin will remain trapped in a battle between sellers and buyers, but if Bitcoin breaks out above $ 90,000 again and the American markets find a more stable basis, the recovery of Bitcoin could turn out much more substantially than the market estimates. Until that time, caution is required and the market remains awaiting the next big signal.
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Source: https://newsbit.nl/analist-dit-zijn-de-twee-triggers-voor-een-onverwachte-bitcoin-rally/
