Trader Who Accurately Called 2022 Crypto Bottom Rules Out New Bitcoin Lows, But There’s a Catch

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A crypto strategist who accurately predicted the bottom of Bitcoin (BTC) in 2022 says new bear market lows are not in the future of the king of cryptos.

However, pseudonymous crypto trader DonAlt tells his 476,400 Twitter followers that at Bitcoin’s current value of $30,202, his risk-reward investment ratio is undesirable.

Simple enough for me. I think come in here [about $32,000] and the upper range [about $60,000] This is where most of the risk and very little reward is. We won’t be making new lows in my opinion (in my opinion), so the closer you get to the bear market line the better.

Source: DonAlt/Twitter

Looking at his chart, the crypto trader says that investors better buy Bitcoin closer to the bear market line at $20,000 to get a better risk-reward ratio on their investment. Bitcoin hit a November bear market low of around $15,700.

He also sets market range trends, calling $20,000-$30,000 the market range and the $30,000-$32,000 range indecision. DonAlt says that above the $32,000 level is the bull market range, which saw Bitcoin hit an all-time high of nearly $69,000 in 2021.

The crypto trader says he sold Bitcoin as the crypto king traded at the $30,000 level earlier this week and on Friday he sold Litecoin (LTC) and XRP, after buying all three in November.

Sold BTC in recent days, LTC and XRP today.

BTC ~ Up to 90%

SLD ~ Up to 65%

XRP ~ Up to 50%

It was a pleasure, I didn’t think I would get these moves so fast, but I’m happy about it. I will give it some time before deciding where I want to trade next.

On Tuesday, DonAlt said he earned 2x on his Bitcoin investment.

“Closed position (for now). I’m happy with the 2x and I’ll relax for a while until I see another great opportunity. I’m not bearish but I want to take it easy in the next few months and think about something other than BTC price.

Source: DonAlt/TwitterDon’t Miss a Beat Subscribe to receive crypto email alerts straight to your inbox Check the price action Follow us on Twitter, Facebook and Telegram Surf to The Daily Hodl Mix Check the latest news headlines not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

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