Investors are closely following market experts who have made accurate predictions in the past. However, their past success does not guarantee their accurate predictions in the future. Nevertheless, it can be beneficial to follow these famous experts known for their successful percentage of predictions. So what is the new forecast of the analyst who predicted the bottom in 2022?
Insights from the Analyst Who Predicted the Bottom
The famous analyst who accurately predicted the bottom in 2022 addressed over half a million cryptocurrency investors. The expert believes that Bitcoin may surpass the $28,000 resistance, indicating the potential for a parabolic rally.
If the Bitcoin price successfully surpasses the resistance at $28,000, we may witness a rise in the BTC price up to $42,000.
“Anyway, my main scenario focuses on $28,000. This level is being challenged and we may surpass $35,000. This is the bears’ last line of defense, so they will want to evaluate it.”
Bitcoin 2023-2024 Forecasts
At the time of writing, the BTC price is $27,919. Although it has been above $28,000 for the past few days, the last closing was still below $28,000. However, the price remaining close to the critical resistance area can be considered positive.
DonAlt explains why BTC is preparing to surpass $28,000 and enter an upward trend. According to the analyst, despite Bitcoin’s recent “constructive” price movements, crypto traders are still maintaining a bearish bias.
“I look at the charts and I basically see a downtrend for a long time. I look at the charts recently and I see constructive price movements. Then I check the sentiment and people say, ‘Yes, bears are coming back.’
Although I think we had a daily breakout on October 1st. We had such a big candle to the upside that almost no one could explain why it happened.
Since then, we have been consolidating around the $28,000 level, and for me, $28,000 is the only real resistance I care about, based on the weekly resistance. The fact that we have stayed attached to this level for so long excites me a bit.”
However, if the BTC price fails to surpass this range, the analyst indicates a new bottom between $23,000 and $20,000.
