A widely followed crypto strategist is revealing what he believes is the only chart that matters for Bitcoin after BTC briefly went below $80,000 last week.
Pseudonymous analyst DonAlt tells his 797,800 followers on X that Bitcoin investors should look at BTC on a long-term timeframe to see its strength.
“If you zoom out a little bit, this is realistically the only chart that really matters.
Low timeframes may suck, but the monthly looks excellent still, especially considering all the geopolitical sh*t we’ve been getting thrown at us.”
DonAlt seems to suggest that BTC will remain bullish as long as it stays above $70,000.
On October 15th, Bitcoin fell to $79,732 before bouncing and rallying back toward $85,000. DonAlt notes that the recovery has put Bitcoin in the green for the month of October.
“You’d think the panic of the last week was more than the tiniest wick on the monthly candle.
Interesting how that works.
Think you all need to zoom out a bit more; save yourselves the stress (and money).”
He also says that Bitcoin continues to flash signs of strength despite geopolitical concerns.
“If this is all the pullback we’re getting, that’s incredible
Nice lil bounce off, honestly, a meh support
And all that amidst geopolitical turmoil and a broad expectation of a Black Monday
Good stuff; long may it last.”
In August of this year, DonAlt predicted Bitcoin would “explode” as it threatened to take out resistance at around $65,000.
At time of writing, Bitcoin is trading at $84,225.
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