Senior technical analyst Tone Vays said that Bitcoin (BTC) is in the process of targeting $100,000 in the coming months. The analyst’s predictions are based on a repeat of BTC’s rally from late July to early September, when it rose from $32,000 to $52,000. Vays supports this prediction with several momentum indicators. Let’s continue with the technical details…
Analyst thinks Bitcoin price will reach $68,000 in the first step
MRI, a time-based indicator that predicts the end of trends based on the momentum in price action, supports a strong bullish trend for BTC before hitting resistance just above the ATH levels around $68,000, according to the veteran crypto analyst. According to the analyst, after the break of $ 68,000, a great momentum can be gained towards $ 100,000 towards the end of the year. Vays details his analysis, where he shared his price predictions for certain months, as follows:
I’ll probably wait for a repeat of this situation, and if we repeat this situation, it will get us to the all-time high of $68,000 or maybe a little less. We will likely have significant resistance at the MRI resistance line, and I expect a big breakout from this zone ($68,000) to the $100,000 area by the end of the year, possibly after being stuck there until November, maybe mid-November. Or from the end of the year to January-February. Either way, these are my goals. I am very optimistic right now.
Analyst expects a rise in BTC price towards the new year
cryptocoin.com Tone Vays, whose analysis we shared as, said that Bitcoin (BTC) could potentially make a move to reach all-time highs early next month before making a parabolic move into the six-digit price range by 2022. The analyst claims that BTC could explode in October just like it did in 2013:
Just like before, at the beginning of October or mid-October, I expect us to begin challenging previous all-time highs, and then take a massive upswing at the end of the year. I expect us to go from $65,000 to $100,000, as it was from mid-October to the end of December. That’s still my goal.
Meanwhile, at the time of writing, Bitcoin price was trading at $47,581.33, while Cosmos (ATOM) and Avalanche (AVAX) prices were in discovery mode. You can find crypto analyst Jason Pizzino’s analysis of DOT, AVAX, Cosmos and SUSHI here.
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