Tone Vays, one of the experienced traders of the cryptocurrency world, bitcoin He wants the parabolic rally that the price recorded in 2019 not to be repeated. Vays is of the opinion that such a rally could affect future price action. Here are the striking details.
Posting a new video on his YouTube channel Tone Vaysdoes not want BTC to break the $35,000 level on the first try. The trader is of the opinion that such a “hard” rise could create problems in the price.
Koinfinans.com As we reported, Bitcoin recorded a bottom in 2019 and immediately increased by 200% in four months. Immediately after this rise, there was a sudden decrease of 70%. As a result, BTC remained stagnant for a year.
Wow, such a bitcoin rally He underlined that he is looking for slow but steady growth instead.
Let’s say we go up to $50,000. It’s only a matter of time before we withdraw to $25,000 or $30,000 right after this move. However, if we rise slowly and steadily, the probability of a correction decreases.
In short, if we slow down a bit and close the weeks stronger, we will touch $30,000 and slowly pull back to 25,000. After 35,000, 40,000 etc.
NEWS CONTINUES BELOW
Vays also updated his price forecast if Bitcoin breaks the $35,000 level in the coming months. The trader is of the opinion that a rise to the $50,000 to $60,000 levels is possible.
You can follow the current price action here.