A crypto strategist who rode Bitcoin’s 2023 breakout is warning that BTC is at risk of witnessing a significant correction if it fails to rally above $100,000.

Pseudonymous analyst DonAlt tells his 63,000 YouTube subscribers that Bitcoin will likely bounce if it pulls back to $90,000.

But the analyst warns that a correction now would put BTC in a position to see more downside price action.

“I think if it pulls back to $90,000 in any shape or form, you’re going to get some strength there… But like I said, I don’t that would be necessarily good for the short-term price action.

I think if you get to $89,000, you can get to $94,000 after maybe $95,000 and then I think you’ll probably go back down again.”

The analyst notes that his Bitcoin outlook would be different if BTC soars above $100,000 first before undergoing a meaningful retracement.

“What you want to see basically is this thing just continuing to go. If you pull back at $120,000 or whatever, maybe it flash crashes to $90,000 and then I would say something different. Then I’d be like, ‘Hey, this is a really good area in comparison to whatever else we have on the chart.’

And then maybe it doesn’t just make a lower high but actually really goes…

Otherwise, I think the level ($90,000) is just going to be a roadblock before we go somewhere in the low $80,000s.”

At time of writing, BTC is trading for $94,245.

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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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The post Analyst Issues $80,000 Bitcoin Price Warning As Crypto Markets Retreat appeared first on The Daily Hodl.

A crypto strategist who rode Bitcoin’s 2023 breakout is warning that BTC is at risk of witnessing a significant correction if it fails to rally above $100,000.

Pseudonymous analyst DonAlt tells his 63,000 YouTube subscribers that Bitcoin will likely bounce if it pulls back to $90,000.

But the analyst warns that a correction now would put BTC in a position to see more downside price action.

“I think if it pulls back to $90,000 in any shape or form, you’re going to get some strength there… But like I said, I don’t that would be necessarily good for the short-term price action.

I think if you get to $89,000, you can get to $94,000 after maybe $95,000 and then I think you’ll probably go back down again.”

The analyst notes that his Bitcoin outlook would be different if BTC soars above $100,000 first before undergoing a meaningful retracement.

“What you want to see basically is this thing just continuing to go. If you pull back at $120,000 or whatever, maybe it flash crashes to $90,000 and then I would say something different. Then I’d be like, ‘Hey, this is a really good area in comparison to whatever else we have on the chart.’

And then maybe it doesn’t just make a lower high but actually really goes…

Otherwise, I think the level ($90,000) is just going to be a roadblock before we go somewhere in the low $80,000s.”

At time of writing, BTC is trading for $94,245.

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Follow us on X, Facebook and Telegram

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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.

Generated Image: Midjourney

The post Analyst Issues $80,000 Bitcoin Price Warning As Crypto Markets Retreat appeared first on The Daily Hodl.