Tone Vays, a crypto trader, Bitcoin He states that it can enter the bull market in the strongest way if it manages to stay above an important resistance level.
The analyst states that Bitcoin is trading in a narrow range, but there is potential for BTC to rise by reaching the $48,000 level.
“In a perfect scenario, we would start a rally soon, move back to the top of the range ($44,000), then drop to the bottom of the range, [128 günlük] to moving average [40.000 dolara] we will get closer… and start a rally from there.
Or just continue the consolidation process and [128 günlük] It allows the moving average to provide a buying opportunity.”
According to Vays, once Bitcoin starts to make a close above $43,500, the crypto king will go “super bullish,” signaling that the asset is preparing to break out of its range.
In late December, Vays stated that Bitcoin would gain strong bullish momentum if it broke above $50,000. Sidelined traders will likely start to catch up with Bitcoin at this point, leading to further rallies, the analyst said.
“After breaking above $50,000, the next hurdle to deal with will be the all-time high of $65,000.
I think if Bitcoin starts to rise above $50,000, FOMO (fear of missing out) will disappear. “With the ultimate burst of FOMO, everyone will be rushing.”
Koinfinans.com As we reported, Bitcoin is trading at $42,809 at the time of writing this news.
