happening in 2018 bitcoin The trader, who became famous for predicting its collapse, shared his new prediction. According to the trader, BTC could trigger a rally towards the end of the year. However, there is one detail that needs attention.
Veteran trader Tone Vays stated that Bitcoin is trading in a ‘narrow sideways channel’ after rising from $15,700 in the current bear market.
“The emergence of this horizontal channel after a 10% rise is a harbinger that the next break will be in the bullish direction. The next break also has a 10% chance of happening.”
While the experienced trader expects a rise in the Bitcoin price in the short term, he also shared the detail that the rally will continue to an important resistance level. According to the Trader, a selling pressure will also be triggered after the price rises to these resistance levels.
“If we touch the 128-day moving average as a result of the rally, it will go to the ‘bottom of the channel’ which is a major resistance level. Therefore, this leap is likely to continue until the end of the year. With the new year, everyone will increase their expectation of rise, but we can see a decrease right after that.”
Koinfinans.com as we reported Tone Vays He had previously continued to evaluate the possibility of the Bitcoin price falling below $15,000.
“The reason I maintain this forecast is because we spent a lot of time at the $16,000 lows. The way prices are bottoming out usually doesn’t give much time to ‘buy lower’. He doesn’t have more than a few hours to buy from the bottom.”
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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.