A crypto trader who rode the Bitcoin (BTC) rally from the November 2022 low all the way to the 2023 high is detailing a market re-entry strategy.

Pseudonymous analyst DonAlt tells 52,900 subscribers of the TechnicalRoundup YouTube channel that the potential approval or rejection of a spot Bitcoin exchange-traded fund (ETF) in the US will offer an entry opportunity.

“If we get an ETF, there’s a chance that we’re just going to go to $32,000 – $35,000 given the recent weakness. This is a crypto-specific weakness and people are very willing to sell and it could be that people just start selling again at $32,000, $34,000, $35,000 if we get ETF approved.

If we get it [spot Bitcoin ETF] denied, we’re going to go, I think, to $20,000, $19,000…

That’s kind of what I’m looking at: ETF denied, look to buy $19,400. ETF approved, look to buy as soon as I can after the news hit and sell into $32,000 – $35,000.”

Bitcoin is trading at $26,394 at time of writing.

According to the analyst, if Bitcoin rallies past profit-taking levels on good news, BTC is likely to correct and offer re-entry opportunities.

“Even if, let’s say we rally and we go to $35,000 and I sell and it just goes vertical, I think we’re going to retest that on a pullback and then I can just get back in.

And if it does what crypto has been doing in recent times – it goes up on good news and then it notices no one is buying then, it could just come back into this range [around $25,000 – $32,000] and range some more.”

I

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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 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.

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The post Crypto Trader Who Caught 2023 Bitcoin Breakout Details Plan to Reaccumulate BTC – Here Are His Targets appeared first on The Daily Hodl.

A crypto trader who rode the Bitcoin (BTC) rally from the November 2022 low all the way to the 2023 high is detailing a market re-entry strategy.

Pseudonymous analyst DonAlt tells 52,900 subscribers of the TechnicalRoundup YouTube channel that the potential approval or rejection of a spot Bitcoin exchange-traded fund (ETF) in the US will offer an entry opportunity.

“If we get an ETF, there’s a chance that we’re just going to go to $32,000 – $35,000 given the recent weakness. This is a crypto-specific weakness and people are very willing to sell and it could be that people just start selling again at $32,000, $34,000, $35,000 if we get ETF approved.

If we get it [spot Bitcoin ETF] denied, we’re going to go, I think, to $20,000, $19,000…

That’s kind of what I’m looking at: ETF denied, look to buy $19,400. ETF approved, look to buy as soon as I can after the news hit and sell into $32,000 – $35,000.”

Bitcoin is trading at $26,394 at time of writing.

According to the analyst, if Bitcoin rallies past profit-taking levels on good news, BTC is likely to correct and offer re-entry opportunities.

“Even if, let’s say we rally and we go to $35,000 and I sell and it just goes vertical, I think we’re going to retest that on a pullback and then I can just get back in.

And if it does what crypto has been doing in recent times – it goes up on good news and then it notices no one is buying then, it could just come back into this range [around $25,000 – $32,000] and range some more.”

I

Check Latest News Headlines

 

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.

Generated Image: Midjourney

The post Crypto Trader Who Caught 2023 Bitcoin Breakout Details Plan to Reaccumulate BTC – Here Are His Targets appeared first on The Daily Hodl.