DonAlt Sees Critical Moment in Bitcoin Market Ahead of Fed Decision

Trader DonAlt, known for accurately predicting XRP's rally from $0.50 to $3.50, has published his latest price outlook for Bitcoin.

The market is at a critical moment as Bitcoin approaches the psychological level of $64,300, while investors remain frozen in anticipation of the U.S. Federal Reserve's interest rate decision.

According to DonAlt, Bitcoin has reached an equator separating a prolonged decline from a new large-scale rally. He marked this threshold with a red resistance line on his weekly price outlook.

'Above the red line, we actually look quite good,' DonAlt commented on the current market structure. However, he emphasized that he is waiting for solid confirmation and 'might have to add' if Bitcoin closes above it.

DonAlt also highlighted two key scenarios for the market: a bullish case where a weekly close above the red resistance zone of $66,600-$68,000 would break the downtrend and open a path for new all-time highs; or a bearish case where buyers fail to hold current levels, leading to a correction toward $60,000, and potentially falling as far as $42,000-$45,500.

Interestingly, DonAlt sees greater potential in Ethereum, stating 'ETH is the same as BTC, but better.' The analyst notes that ETH's chart is recovering faster and more cleanly than Bitcoin's. While major players are using the current pullback to increase their positions, according to on-chain data from Santiment, large holders accumulated 29,075 BTC over the past week alone.