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Decoding DonAlt's Bitcoin Warning: Erosion, Not Explosion
DonAlt, a trader whose calls carry weight in the crypto sphere, recently dropped a chart that's less a prediction of doom and more a clinical observation: Bitcoin's losing steam. His analysis, shared on November 4th, pegs BTC at $104,169, struggling against a $120,000 ceiling with supports at $93,900 and $87,300. The takeaway? The market's tired, not collapsing—yet.
The key here isn't sensationalism; it's the pattern. DonAlt's weekly chart highlights a worrying trend: each price surge is weaker than the last, and dips are met with fewer and fewer buyers. It's not a crash, but a gradual weakening, tracing the same range with diminishing returns. This isn't about emotional predictions; it's about recognizing a quantifiable decrease in momentum.
The Decision Corridor: $87,000 Holds the Key
The critical zone to watch, according to DonAlt, lies between $93,900 and $87,000. Breach that, and we're looking at a potential slide into the low $80,000s. He calls it the "decision corridor," a make-or-break stretch that determines whether Bitcoin maintains its current cycle or enters a bear market. A close below $93,500 this week could trigger a 10-15% drop to the $88,000-$90,000 range, with a further 20-25% correction possible if $87,300 fails to hold.
Now, let's inject a dose of reality. Crypto markets are notorious for volatility, and technical analysis isn't a crystal ball. However, DonAlt's assessment aligns with a broader sentiment I'm seeing (and this is the part I find genuinely concerning) across trading forums: a growing sense of unease, not panic, but a weary acceptance that the easy money might be over. The "hodl" mantra is giving way to a more cautious, "wait and see" approach. 'Time to Look Away': Bitcoin Price Outlook Update by Top XRP Trader Reveals Brutal Truth
The one saving grace? Reclaiming $120,000 could spark a rally towards $135,000. But, based on the current structure, the odds favor the bearish scenario. It's like watching a rubber band slowly lose its elasticity; it might still snap back, but the tension is clearly diminishing. The market needs a catalyst, and right now, all we have is erosion.
Time to Re-evaluate Risk Tolerance
DonAlt's analysis isn't just about price points; it's a wake-up call. It's a reminder that markets don't move in straight lines, and that even the most promising assets can face periods of stagnation or decline. The crucial question for any investor is: what's your risk tolerance? If you bought into Bitcoin at its peak, are you prepared to weather a potential drop to the $80,000s? Or is it time to re-evaluate your position and cut your losses?
