Bitcoin Bulls Eye Higher Prices Despite Bearish News

Bitcoin's recent consolidation phase is expected to resolve in favor of bulls, according to a prominent crypto analyst. DonAlt, a pseudonymous analyst with over 65,000 YouTube subscribers, believes that Bitcoin's price has held up remarkably well despite a series of bearish news events, including President Trump's trade war talks and annexation considerations.

In a strategy session, DonAlt noted that Bitcoin has not experienced a significant correction despite these headlines, which could have catalyzed a deeper sell-off in the past. He argues that the fact that Bitcoin is still trading above $90,000 indicates that the cryptocurrency is gearing up for much higher prices.

While DonAlt acknowledges that technical analysis (TA) suggests a slightly bearish stance as long as Bitcoin remains below $101,000 or the weekly mid-range around $98,000, he maintains a bullish outlook. He believes that the strength of the uptrend and the weakness of the sell-off, despite the bearish news, make it difficult to be overly bearish.

At the time of writing, Bitcoin is trading at $96,310, down 1.43% in the past day. Despite the slight dip, DonAlt's analysis suggests that Bitcoin's consolidation phase is likely to resolve in favor of bulls, with much higher prices on the horizon.