A top trader who was present during the cryptocurrency's breakout last year believes bitcoin (BTC) will witness a corrective move if it reaches a key price level.
DonAlt expects #BTC to #bounce back quickly once it reaches a resistance level around $BTC A decent pullback to the $46,000 levels or even lower is then likely.
The #cryptocurrency strategist is also considering accumulating BTC on the downside, but only if it falls to a key support level on the senior timeframe around $BTC I am convinced to buy at weekly and monthly support at $32,000 - $BTC I don't think they will be broken, but if they are, this is the type of buy that holds in anticipation of a bottom, simply because this is an important area, a net pullback of 30-40%. I like that.
At the time of writing, #bitcoin was trading at $51,665, down slightly from the day before.
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