A popular crypto analyst thinks that Bitcoin (BTC) should pull back quickly soon for investors to see higher highs next week. cryptocoin.com We share the analyst’s comments with you…
Comment on Bitcoin price from Tone Vays: It could drop to $55,000
In a recent market update, crypto analyst Tone Vays says BTC could explode once it exceeds $63,000. However, it expects a move to the $55,000 region first. Saying that he is not very enthusiastic for this level, the analyst said, “However, we can now lower our breakout area to $63,000. If bitcoin price rises above $63,000, we will break the previous rally ($66,900). Now I really want to see another pullback. I want to see the pullback this weekend. It can retrace to $55,000 and then bounce right off,” he said.
In September, Vays correctly predicted that Bitcoin would hit previous all-time highs in mid-October. Vays thinks that $55,000 Bitcoin would offer a great entry opportunity, but he also takes into account the possibility of a slightly larger correction before hitting $100,000. “I think this level is low. If we drop to $55,000 or $56,000, I think it’s a great buy-sell situation,” said the analyst, adding the following statements:
My worst case scenario is really $52,000 or $53,000. This is my worst case scenario. I don’t think we will go below this support area and I still think we will reach $100,000 by the end of the year. I expect a big rally at any moment.
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