Analyst Who Accurately Predicted Bitcoin Bottom Sends Major Alert to Crypto Traders As Market Dips
A crypto analyst and trader who flipped bullish on Bitcoin (BTC) at its bottom is making a major adjustment to his portfolio.
The pseudonymous DonAlt tells his 463,000 Twitter followers that he is taking profit on a significant portion of his holdings.
DonAlt bought BTC, Litecoin (LTC) and XRP in November, as the dust from FTX’s collapse began to settle and bad news no longer seemed to have an impact on the market.
His LTC and BTC holdings have ripped, while XRP has remained relatively stagnant.
“Reduced my oversized positions by ~50% overnight to secure some profits given both BTC monthly and weekly closed at resistance.
Since the initial post, these positions are:
BTC – Up 60%
LTC – Up 60%
XRP – Up 10%”
DonAlt expects BTC and altcoins to retrace for the next one to three months, with BTC winding down to the $20,000 range.
At that point, he plans to reenter the market and expects BTC to resume is 2023 uptrend.
If Bitcoin doesn’t retrace and continues to rise from its current price of $24,009, the trader says he will consider taking additional profits in the $30,000 range.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Standret
The post Analyst Who Accurately Predicted Bitcoin Bottom Sends Major Alert to Crypto Traders As Market Dips appeared first on The Daily Hodl.
Comments are closed.