A prominent cryptocurrency analyst and trader, known by the pseudonym DonAlt, has voiced a bearish outlook on Bitcoin (BTC).

Speaking to the 60,500 subscribers of the Technical Roundup YouTube channel, DonAlt warned that Bitcoin is poised to break a critical psychological support level and potentially dip below $60,000. He emphasized that a breach of the range between $60,000 and $73,800 could lead to an extended period of downward or sideways movement, lasting up to 120 days.

In the most pessimistic scenario, DonAlt suggested that Bitcoin could decline by as much as 35% from its current price. He outlined a potential floor around the mid-$40,000s, specifically between $44,000 and $40,000, as the worst-case scenario. Conversely, he speculated that under bearish conditions, Bitcoin might achieve a high of $52,000 before settling into a sideways trend.

Highlighting a bullish indicator, DonAlt noted that a weekly closing price above $63,000 would signal a positive setup for Bitcoin. However, he deemed this outcome highly improbable, estimating its likelihood at a mere 10%.

As of the latest update, Bitcoin is trading at $61,705.

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