Crypto Strategist Who Nailed Bitcoin 2022 Bottom Says BTC Is ‘Done For’ if It Plummets Below This Level

A trader who accurately predicted the floor price of Bitcoin (BTC) in 2022 is updating his outlook on the flagship crypto asset.

In a new TechnicalRoundup video, pseudonymous trader DonAlt tells his 49,500 YouTube subscribers that he remains bullish on Bitcoin and the weekly and monthly charts are why.

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According to DonAlt, his bullish thesis will be invalidated if Bitcoin falls below $22,000.

“So far so good, right? The buys that we’ve done at $16,000 almost up 2X. And there’s still quite a bit to go.

Monthly looks good, monthly is bullish if the next two days go horribly wrong and we dump below $23,000 forget I ever said that and hide in your bunkers because we’re f*cked at that point. But I doubt that’s going to happen…

The weekly looks good as long as we realistically hold $20,000. That said, my new invalidation is anything really below this [$22,000].

Basically, if we come back below this current impulse candle that we’ve had, I think it’s done for.”

Source: DonAlt/YouTube

Bitcoin is trading at $28,641 at time of writing.

On the next key level, if Bitcoin maintains an upward trajectory, the pseudonymous crypto trader says that “the next resistance is $35,000, so that’s been the target.”

According to the pseudonymous trader, the banking crisis has created a strong narrative for the crypto market.

“Bank bailouts are basically the most bullish thing you can have for crypto. It’s why crypto exists, it’s why a lot of us are in this market. It’s basically opening the eyes to a lot of people that what’s going on in the world is not really right.

It becomes the narrative to play, which I like. We have a strong narrative now and we have a strong narrative going into the halving. So we not only have the meme halving pump coming, we also have a strong narrative for it. So that’s a good one, it’s a good combination to have.”

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