Bitcoin's Breakout Imminent: Analyst Predicts Explosive Surge

Bitcoin's potential for a significant price surge is becoming increasingly likely, according to a top cryptocurrency analyst and trader. The pseudonymous analyst, known as DonAlt, shared his insights with the 65,700 subscribers of the Technical Roundup YouTube channel, highlighting the improving market structure of Bitcoin on the daily chart.

DonAlt believes that Bitcoin's price action around the $96,000 level indicates a tightening market, which could lead to an explosive breakout in the near future. He attributes this likelihood to the recent headlines and the growing size of the candles on the chart. However, he cautions that if the uptrend is invalidated, Bitcoin could revisit the $40,000 or even $30,000 range, representing a 72% pullback.

At the time of writing, Bitcoin is trading at $96,485, down 1.4% in the last 24 hours. Despite the recent dip, the analyst's analysis suggests that the market structure is continually improving, and a massive breakout may be on the horizon.