One of the world’s most famous cryptocurrency analysts Tone Vays, Bitcoin (BTC) made a new statement about
After seeing the bottom with the Ukraine war recently, BTC has started to rise again and Vays has announced exactly when this rally will regain its former speed.
Tone Vays Announces Rally Condition For Bitcoin
Wow, In his statement to 120,000 YouTube subscribers, he revealed the direction map of BTC. The analyst emphasized that we are still in a downtrend and added:
We are still in a downtrend. I’d like to tell you a fairy tale story about how we’re going to get to $100,000, but the charts don’t confirm that right now. Sorry, this uptrend doesn’t exist yet.”
Looking at the weekly chart, Tone Vays emphasized that $44,000 must be broken for a re-rally to come.
According to Vays, until this level is seen, the three-month trend is still bearish. While we can now climb higher, it will not be possible to see a full rally before $44,000 is broken.
Vays emphasized that this may change in the near future and that a bull run may be seen again:
In an era dominated by inflation and tyrannical governments confiscating people’s money, Bitcoin will inevitably break the double peak and take its revenge. The more Bitcoin is suppressed below $65,000, the more violent the upside will be. BTC will eventually break a new record.”
Bitcoin is currently trading at $38,800 and remains below the $40,000 resistance.