Analyst Who Called Exact Bitcoin Bottom Issues Alert to Crypto Traders, Warns It May Soon Be Time to Sell

One of the few crypto traders who was bullish and bought bitcoin at rock bottom in November said he was weighing when and where to sell for profit.

In a new edition of Weekly Open, pseudonymous trader DonAlt says the market is performing similarly to 2020, with BTC showing significant strength and recovering quickly after each drop.

But the trader To tell He planned a zone that could be nasty for BTC.

He points to a consolidation zone around $30,000 as a point to consider reducing exposure. Last year he back in May and he back in June, that level was a key area of top crypto consolidation.

“I think we’re getting close to the level where we actually want to sell.

I was ridiculously bullish at $16,000, $19,000, ridiculously bullish at $20,000 but I think the mid-$20,000s to low-$30,000s start to have problems

of this kind [historic] integrated here [at $30,000]at which point I think the next pushup is probably for sale.

DonAlt says that as long as Bitcoin can crack $32,000, anything is fine.

Once you get over $32,000, you start to get to a level where you have to shut down your brain and basically go with the flow.

But it would be hard for me too. Somewhere in the $30,000 region, we can probably start closing some positions and take profits.

DonAlt also bought Litecoin (LTC) near the November low of around $60. The coin is currently at $96 and there are concerns about BTC’s hit resistance, but traders say they have no plans to sell their positions if BTC hits a wall in the coming days and weeks.

I like the setup, so I will probably hold Litecoin. But in general, if Bitcoin flips by $32,000, it will be very difficult to trade other than to hold.

So I don’t want to sell everything even if I go further up. Because I know I’m too stupid to flip over and turn my head off and he buys me $32,000.

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