Posljednjih dana Bitcoin has been intriguing both investors and traders due to its price action. In the month of February, Bitcoin has had a roller coaster ride in terms of price movement. In the last few days the flagship currency was pulled back to $21K after hitting the $24K area. However, Bitcoin price has once again regained the $24,000 level.
At the time of writing, Bitcoin is selling at $24,728 after a fall of 0.76% over the last 24hrs.
Now the question of Bitcoin further price action has left market participants in a confusing state whether to sell or hold on. However, a renowned crypto analyst and trader known as DonAlt claims that the crypto market is currently mirroring the 2020 pattern where Bitcoin is flashing strength and recovery.
Bitcoin Price To Enter A Bearish Trade ?
DonAlt is among the analysts who had purchased Bitcoin in November during its bottom and now he has come up with a strategy to when and how to sell BTC. Moreover, as per his analysis Bitcoin will enter a consolidation zone near $30,000 and this is the area where he considers BTC to sell.
On the contrary, DonAlt states that if Bitcoin manages to surpass the $32,000 area the next move can be either bullish or bearish. Hence, he is of the opinion that $30,000 is the area where one can sell and claim some profits.
Before the strategist winds up his analysis, he talks about Litecoin (LTC) which he had purchased in November when it hit as low as $60. Even though Litceoin is currently on a bullish momentum, DonAlt plans to hold onto his LTC even if Bitcoin makes a move above $32,000.
Currently, Litecoin is changing hands at $94.01 with a loss of 3.62% over the last 24hrs.
Source: https://coinpedia.org/bitcoin/bitcoin-price-to-flip-if-it-hits-this-level-forming-a-sell-zone/