A prominent cryptocurrency analyst believes that Bitcoin (BTC) could surge to six-figure territory if it successfully breaks above a key resistance level.

During a recent session on the TechnicalRoundup YouTube channel, renowned crypto strategist DonAlt shared insights with his audience of 61,000 subscribers. He suggested that the recent downturn in Bitcoin’s price might be reversed if it manages to close approximately 9% above its current trading price.

According to DonAlt, surpassing the critical threshold around $63,000 to $64,000 could trigger a significant rally, potentially pushing Bitcoin beyond its previous all-time high set earlier this year.

However, DonAlt cautioned that Bitcoin could experience a 10% decline if it fails to hold support around $56,500. In such a scenario, he outlined potential targets around $52,000, noting the possibility of a sharp reversal if market conditions remain favorable.

Reflecting on the bearish scenario, DonAlt speculated that a breakdown below $52,000 could lead to further losses, possibly down to $40,000, representing a scenario of complete capitulation.

As of the latest update, Bitcoin is priced at $57,443, marking a 4.5% decline over the past 24 hours.

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