Veteran crypto analyst Tone Vays said this past weekend bitcoinHe looked at the situation of Bitcoin after the deep correction that brought Bitcoin (BTC) below $ 42,000 in a few minutes.
Speaking in his strategy session on his YouTube channel, Vays thinks that if the stock markets can make a rally earlier this week, Bitcoin can gather its strength to bounce back above the important $53,500 level.
Vays predicts that a “V-shaped reversal” of Bitcoin will turn into an uptrend. BTCHe notes how quickly the coin moved from $47,000 to $41,500, showing strong buying demand in the $40,000 range.
“I think it will be like a V-shaped comeback. You won’t have another chance to buy this fall. If you even went to the bathroom for $43,000 to $41,000 during this crash, you missed out somehow… On an hourly scale, between $47,000 and $41,500 you only have less than an hour. You’ve had another chance to buy at $47,000, but you won’t have a chance to buy under $45,000.”
The closely-followed analyst thinks that after the recent market crash, Bitcoin actually has a better chance of hitting all-time highs this year than it was before the crash. According to him, Bitcoin’s daily candle on December 4 may have created a spring-like catalyst for BTC to start a new uptrend in the coming days.
“Because of the way this candle has manifested itself, the probability of being at an all-time high this year is now higher than yesterday when the candle was higher because there was still a chance of a high candle on yesterday’s candle. The slow drift decline and subsequent consolidation also support this. But the V-Shaped movement is actually FOMO’s [kaybolma korkusu] It creates additional upward pressure.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.