A crypto analyst who accurately predicted the 2022 Bitcoin bottom is sounding the alarm, warning that BTC may be on the verge of a significant collapse.

In a recent video update, an anonymous analyst known as DonAlt informs his 60,100 YouTube followers that BTC is in danger of losing all its positive momentum.

According to the crypto strategist, if BTC bulls fail to defend the $63,000 support level, a capitulation event is likely to occur. DonAlt had previously considered $60,000 as a reliable support level, but after several tests, he now believes it is unreliable and not worth considering.

The $63,000 mark is the last line of defense before a retest of $60,000, and DonAlt believes that if $63,000 is broken, $60,000 will crumble as well. Although there may be a temporary surge in price, he expects a significant breakdown in the following days, weeks, or even a month.

DonAlt emphasizes the importance of not underestimating the significance of the last support level, as it typically attracts a lot of activity.

Previously, DonAlt highlighted $63,000 as a “do-or-die” level for Bitcoin. If this level is breached, he predicts that BTC will drop to $50,000. However, if the support area holds, he anticipates that Bitcoin will reach new all-time highs.

Currently, Bitcoin is trading at $62,152, below the analyst’s support level.

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