Crypto Analyst Sees Bitcoin (BTC) Mirroring Gold’s Parabolic Breakout of 2024 – Here’s His Outlook
A crypto strategist known for nailing the 2022 Bitcoin bottom says that BTC may be on the verge of igniting a parabolic surge.
In a new strategy session, pseudonymous analyst DonAlt tells his 66,600 YouTube subscribers that Bitcoin may be mirroring gold’s 2024 price action, when the precious metal struggled to clear resistance at $2,100 for multiple weeks before sparking a huge upside burst.
According to the analyst, Bitcoin is likely consolidating below $110,000 to set the stage for a breakout and a parabolic rally to new all-time high prices.
“Look at the $2,000-ish level [of gold]. This is the kind of asset we are now. If you expect anything else other than this, I think you’re just wrong…
You see that breakout level that got tested four times, and you [had] false breakouts… I mean [gold] didn’t move for the longest time, and then it just went up only forever, which is kind of nuts to observe.
But basically, I feel we’re that asset now, where you’re going to flirt with the same level like three or four times and people are going to lose all their money before it breaks out.”
At time of writing, gold is worth $3,368 while Bitcoin is trading for $102,114.
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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 Crypto Analyst Sees Bitcoin (BTC) Mirroring Gold’s Parabolic Breakout of 2024 – Here’s His Outlook appeared first on The Daily Hodl.
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Crypto Analyst Sees Bitcoin (BTC) Mirroring Gold’s Parabolic Breakout of 2024 – Here’s His Outlook
A crypto strategist known for nailing the 2022 Bitcoin bottom says that BTC may be on the verge of igniting a parabolic surge.
In a new strategy session, pseudonymous analyst DonAlt tells his 66,600 YouTube subscribers that Bitcoin may be mirroring gold’s 2024 price action, when the precious metal struggled to clear resistance at $2,100 for multiple weeks before sparking a huge upside burst.
According to the analyst, Bitcoin is likely consolidating below $110,000 to set the stage for a breakout and a parabolic rally to new all-time high prices.
“Look at the $2,000-ish level [of gold]. This is the kind of asset we are now. If you expect anything else other than this, I think you’re just wrong…
You see that breakout level that got tested four times, and you [had] false breakouts… I mean [gold] didn’t move for the longest time, and then it just went up only forever, which is kind of nuts to observe.
But basically, I feel we’re that asset now, where you’re going to flirt with the same level like three or four times and people are going to lose all their money before it breaks out.”
At time of writing, gold is worth $3,368 while Bitcoin is trading for $102,114.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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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 Crypto Analyst Sees Bitcoin (BTC) Mirroring Gold’s Parabolic Breakout of 2024 – Here’s His Outlook appeared first on The Daily Hodl.
Read More