Trader DonAlt, who gained cult status in the crypto community after accurately predicting XRP's phenomenal rally from $0.50 to $3.50, has published his latest price outlook for the leading cryptocurrency.
His new market view comes at a critical moment as Bitcoin has moved close to the psychological level of $64,300, while investors remain frozen in anticipation of the U.S. Federal Reserve's interest rate decision.
According to the analyst, Bitcoin has reached an equator separating a prolonged decline from a new large-scale rally. On his weekly price outlook, he clearly marked the key threshold with a red resistance line.
"Above the red line, we actually look quite good," DonAlt commented on the current market structure. The trader explained that he is not going to make blind predictions and is waiting for solid confirmation and "might have to add if we actually close above it."
He is referring specifically to the weekly candle close, which is a key indicator of buyer strength for major market participants.
Two outcomes for Bitcoin and the hidden Ethereum advantage
Based on this chart analysis and the current news backdrop, two key scenarios are now relevant for the market:
- Bullish case: A confident weekly close above the red resistance zone of $66,600–$68,000 would break the downtrend and open a direct path for Bitcoin toward new all-time highs.
- Bearish case: If buyers fail to hold the current levels, the price risks correcting first toward the psychological mark of $60,000 and, if panic intensifies, falling as far as the major support zone around $42,000–$45,500.
Interestingly, the analyst sees even greater potential in Ethereum, briefly summarizing his view: "ETH is the same as $BTC, but better." Judging by this assessment, the second-largest cryptocurrency's chart is recovering faster and more cleanly than Bitcoin's.
While Bitcoin is attempting to overcome local resistance, major players are using the current pullback to increase their positions. According to on-chain data from analytics platform Santiment, shared by analyst Ali Martinez, large holders, or whales, accumulated 29,075 $BTC over the past week alone.