A prominent analyst says Bitcoin will have to regain vital levels in order to invalidate the massive drop below $ 30,000.

In one Video DonAlt is re-drafting a bullish scenario for Bitcoin that could give the benchmark cryptocurrency a push to break a key resistance at $ 52,000.

“Let’s say Bitcoin sees a big drop when bad news comes out, but the news is drowned out afterwards with no bullish news or anything like that, then we should get at least one wave. In this case, Bitcoin should rise slightly to $ 50,000 thanks to short squeezing, assuming Bitcoin recovers above $ 44,000. At this point, I think Bitcoin will break the $ 52,000 mark and continue its upward trend. “

BTC / USD daily chart | Source: DonAlt

While the uptrend is expected to continue, DonAlt said BTC will need to close above key levels first to avoid a full dip to $ 23,000.

“If something happens, wait for the price to close above $ 40,000. In my opinion, this is the bare minimum that Bitcoin has to do. If this is not possible, there will be a sharp drop below $ 30,000. “

BTC / USD daily chart | Source: DonAlt

At the time of writing, Bitcoin is trading at $ 41,419, according to CoinGecko.

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According to Dailyhodl

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