Bitcoin, Ethereum, XRP Need Not Worry About Summer Blues As Long As This Critical Support Holds, Trader Says

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Outstanding crypto analyst DonAlt stays bullish not solely on Bitcoin (CRYPTO: BTC), but in addition on Ethereum (CRYPTO: ETH) and XRP (CRYPTO: XRP), downplaying considerations that summer time seasonality will have an effect on market efficiency.

What Occurred: In a July 2 podcast, the dealer highlighted Bitcoin’s tight consolidation close to key resistance as a possible setup for its subsequent main transfer.

Dismissing geopolitical noise and seasonality considerations, he pointed to $95,000 because the crucial month-to-month help. “As lengthy as we maintain $95,000 on the month-to-month, I am not nervous,” he mentioned.

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DonAlt famous that BTC has proven outstanding energy, grinding by means of a number of ranges with none deep retests. However he warned the market is now at an inflection level.

“If Bitcoin cannot get away quickly and drops to $90,000, I feel the cycle is mainly over,” DonAlt mentioned. In that case, he predicts a shallow bear market, with BTC drifting between $60,000–$70,000 earlier than the following macro leg begins.

Why It Issues: Whereas some merchants argue summer time seasonality dulls crypto momentum, DonAlt is not shopping for it. “I do not care about seasonality,” he mentioned.

As an alternative, he focuses on structural patterns, and presently sees a robust setup. “This resistance has been examined 3 times already. Finally, it breaks.”

He additionally talked about that Bitcoin stays in a “Ponzi pump setup” backed by institutional gamers and ETF momentum.

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What’s Subsequent: Past Bitcoin, DonAlt can be positioned in Ethereum and XRP.

He described ETH’s month-to-month chart as “very nice,” holding above $2,200 help, and maintains XRP as his most popular altcoin regardless of its slower efficiency.

Trying forward, if BTC breaks greater, he sees this as “the final leg” of the present cycle — probably propelling costs to $200,000–$250,000 earlier than a brutal 80% drawdown resets the market.

“It’s going to be a blow-off high adopted by ache,” he cautioned.

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