Here Is Where You Should Enter a Bitcoin Trade, Says Analyst Who Predicted the 2022 Bottom

Here Is Where You Should Enter a Bitcoin Trade, Says Analyst Who Predicted the 2022 Bottom

Key Insights

  • Bitcoin's price is recovering slightly, and the crypto market in general is also showing signs of returning to health.
  • A popular crypto analyst who correctly predicted the 2022 bear market bottom has announced his plans to return to the market and continue trading.
  • The best place to buy BTC right now may be around $25,000-$26,000
  • BTC has entered a bullish phase after a false breakdown of the $25,000 zone, and there are signs that this price rebound may be a valid one.
  • Bitcoin has moved below its 200-day MA, which is a bullish signal, but the analyst warns that it could take months for the price to recover to this level.

Bitcoin's price appears to be recovering slightly, as it enters a bounce off the $25,000 zone.

The crypto market, in general, is also showing signs of returning health with a general market cap of $1.06 trillion, as well as a fear and greed index that is leaning less towards fear, and more towards neutral ground.

The crypto market's fear and greed index
The crypto market's fear and greed index

This leads us to the question:

If BTC is returning to normal indeed, now is the best time to enter.

And if one intends to enter the market, one needs a strategy. Luckily, a famous trader on Twitter who correctly predicted the 2022 bottom has a few ideas that are worth going over.

Here Is How I Would Trade BTC/USD(T) – DonAlt

After the Bitcoin chart lost its footing around the $29,000 zone weeks ago, a popular crypto analyst on Twitter, who correctly predicted the 2022 bear market bottom in November has announced his plans to return to the market and continue trading.

According to a new YouTube video posted recently, DonAlt mentioned that there are now a few choices when it comes to BTC.

Bitcoin's price
Bitcoin's price

The first is to buy somewhere around $25,000 and $26,000, and hope to not get "stopped out" at $19,000.

The analyst went on to say that if we expect a drop to $20,000 or $19,000 and it never happens, we may never get a better entry.

"In general, I'm just assuming that I won't get an entry otherwise, which is the problem with kind of doing nothing, and the reason why I took a trade – I bought like a little bit, not too much, but a little bit of Bitcoin."

In essence, the analyst means that it might be wise to buy a little bit of BTC somewhere around $26,000 and then hope for the best.

If a drop to $20,000 – $19,000 happens, then there is more of an opportunity to re-enter the market.

Keep an eye out for $25,000 – $26,000 | Source: <a href='https://www.youtube.com/watch?v=dcfo9M04Nuo' target='_blank' rel='noreferrer noopener'><u>DonAlt/YouTube</u></a>
Keep an eye out for $25,000 – $26,000 | Source: DonAlt/YouTube

However, if a fall to this zone does not occur, then the $25,000 – $26,000 zone is currently the best place to buy BTC right now.

"I've dipped my toes in, and I'm playing a little. Let's see how it goes," the analyst says.

Bitcoin Holds Steady Above $26,000

After a false breakdown of the $25,000 zone on Tuesday last week, Bitcoin price has entered a bullish phase and appears to now be in a bounce.

Bitcoin's price action
Bitcoin's price action

CoinGlass data also shows that the long liquidation on Monday was about $150 million, while Tuesday's sat at $37 million. This brings the total to about $200 million worth of long-trade liquidations on Monday and Tuesday.

Bitcoin's liquidation data
Bitcoin's liquidation data

This means that the false breakdown earlier in the week was valid and that this current bounce may also be valid.

Could it be possible that BTC bouncing off the $25,000 zone is a true rebound, and we may be seeing a retest of $27,000 or beyond very soon?

Here's What Is Going To Happen With Bitcoin

Bitcoin's signs of a price reversal are starting to get noticed. In fact, the last three candlesticks on the cryptocurrency's daily chart have been green ones.

All green candles on Bitcoin
All green candles on Bitcoin

This three-candle trend has been relatively scarce this year and showed up last in early July, and the middle and end of June, when BTC climbed from just under $25,000 to over $31,000.

Double Bottom formation on Bitcoin
Double Bottom formation on Bitcoin

The chart above even shows a double-bottom formation on the cryptocurrency, indicating more signs that this price rebound is a valid one.

Trader and crypto analyst even has some "proof" that BTC may be headed for the most explosive price gain yet.

Bitcoin's bargain buying
Bitcoin's bargain buying

According to a new tweet from the analyst, Bitcoin has now moved below its 200-day MA and is now in a "bargain buying" territory.

While this is especially bullish news for the cryptocurrency, Rekt Capital went further to say that there's a catch.

Bitcoin's bargain buying chart
Bitcoin's bargain buying chart

The last time this happened, according to the analyst, was in 2022. And when this happened, Bitcoin spent months under this moving average.

In all, a price recovery on Bitcoin still looks valid, and it is necessary to remember that the crypto market is a highly volatile one, and it is important to buy or sell cryptocurrencies carefully.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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