Bitcoin (CRYPTO: BTC) remains at a pivotal support level all the while Ethereum (CRYPTO: ETH) is showing its strongest relative performance in months, according to a prominent crypto analyst.
The Key Technical Levels In a livestream podcast on July 28, pseudonymous analyst DonAlt said Bitcoin needs to move decisively away from the $60,000 region and reclaim $65,000 to improve its technical outlook.
While Bitcoin has managed to hold the zone, he said repeated tests weaken support and increase the risk of a breakdown.
DonAlt predicts a monthly close around $60,000 to $61,000 would be a bearish development and could prompt him to reduce positions accumulated near $58,000.
A close near current levels would confirm that support held but would not provide enough momentum to inspire confidence.
