Bitcoin Price Analysis: DonAlt Predicts Potential Bounce Amid Market Chaos

Bitcoin's Current Price Action and Key Levels

Bitcoin's price has been volatile, dropping 9% in two days to $88,000, causing $1.5 billion in liquidations. Despite this, DonAlt remains calm, noting that the range low test is complete. He emphasizes the critical level at $90,787, which, if Bitcoin closes above, could shift the bias to bullish and potentially push the price toward $100,000.

DonAlt's Outlook and Strategy

DonAlt advises traders to avoid panic and focus on Bitcoin reclaiming key levels rather than speculating on worst-case scenarios. He suggests patience, recommending waiting for Bitcoin to secure a strong close above $100,000 before fully committing to the market. Jumping in prematurely, he warns, carries unnecessary risks.

Market Sentiment and Next Steps

While some traders are eyeing a potential drop to $73,000 to close the CME gap, DonAlt believes this scenario is less likely. He urges traders to stay focused on Bitcoin's ability to hold above critical levels, as this would indicate stability and set the stage for the next upward movement.

With market turbulence and widespread liquidations, DonAlt reminds traders that there’s no reason to panic as long as Bitcoin maintains its key support levels. All eyes are now on whether Bitcoin can secure a strong close above resistance and signal the next leg of its rally.