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Bitcoin Flashing ‘Chad’ Setup and en Route to Witnessing Best-Case Scenario, Says Top Crypto Analyst – The Daily Hodl


A crypto analyst who caught the 2022 Bitcoin bottom thinks BTC is close to witnessing a best-case scenario following mostly bearish price action last month.

In a new strategy session, pseudonymous analyst DonAlt tells his 59,200 YouTube subscribers that Bitcoin looks strong after losing $60,000 earlier this month only to recover the key level a few days later.

According to the analyst, the false downside move is a catalyst that could trigger a burst to the upside for BTC.

“That’s just a chad setup. I love those. Almost all the time when I get them where the daily time frame is bearish but the weekly and the monthly are bullish, when that flips you usually make quite a bit of money.”

While DonAlt is bullish on BTC, he doesn’t expect the crypto king to print new all-time highs just yet. The top trader highlights that Bitcoin rallied by over 170% from October to March, and he believes BTC needs more time to “digest” the move before exploding to greater heights.

“This is something I said a couple of weeks ago: the longer this goes sideways, the better for bulls because we’re basically digesting the move that we had. That was a really, really aggressive move. Usually, you have to digest those by just nuking the entire market, but you can also digest it by just going sideways for long enough.

A false breakdown into sideways afterwards would be the best-case scenario I think.

I generally think as long as you reclaim $62,500, that area, and you don’t lose $61,000 again this just looks really, really good.”

At time of writing, Bitcoin is trading for $64,285.

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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 losses 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.

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