What Does Technical Analysis Say About Bitcoin?
Technical analyst DonAlt sees Bitcoin’s (CRYPTO: BTC) weekly close as a potential market structure break but warns against overanalyzing specific levels on higher timeframes.
What Happened: In the latest podcast update, DonAlt emphasized the importance of consistent methodology when interpreting crypto market structure.
“I just think the discussion is very noisy,” he said regarding debates about higher highs and lows. “I really think this is not a matter of right or wrong, it’s more a matter of how you interpret these signals and do you do so consistently.”
For Bitcoin, DonAlt identified the $61,000-$64,000 range as a key area to watch on the weekly timeframe. He sees a weekly close above $64,200 as necessary for bullish continuation.
Two common processes after a breakout are aggressive continuation or dip …
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