Analyst Sees Bitcoin Poised for Parabolic Breakout After Gold-Like Consolidation
Crypto strategist DonAlt, known for calling the 2022 Bitcoin (BTC) bottom, identifies a gold-like consolidation pattern forming beneath $110,000. He highlights parallels with gold’s 2024 resistance tests around $2,100, where repeated false breaks preceded a sharp parabolic surge. According to DonAlt, Bitcoin’s stalled trading near $110K mirrors that pause, suggesting a similar explosive rally to new all-time highs once resistance finally yields. At writing, BTC trades at $102,114, while gold stands at $3,368. Traders should watch for multiple resistance tests, false breakouts, and tightening ranges — key signs that a parabolic breakout could be imminent. This gold comparison offers a framework for anticipating Bitcoin’s next major move and informs trading strategies, emphasizing risk management ahead of potential volatility.
Bullish
DonAlt’s comparison of Bitcoin’s consolidation under $110,000 to gold’s 2024 pattern points to a bullish outlook. Historically, gold tested $2,100 resistance multiple times with false breakouts before a sustained parabolic rally. Bitcoin’s current trading behavior — repeated resistance tests, narrowing range, and false breakouts — aligns with that model. In past cycles, similar consolidations have preceded major upside moves: for example, Bitcoin’s 2015–2016 range before the 2017 bull run. Short-term, traders can anticipate heightened volatility and should set alerts for resistance tests near $110K. Long-term, a confirmed breakout could trigger rapid FOMO-driven inflows, driving BTC to new ATHs. This pattern suggests a shift to bullish sentiment, with technical and psychological factors converging to support a strong rally.