Experienced trader Tone VaysHe predicts bearish in the near future of Bitcoin (BTC), saying that the Bitcoin chart looks “terrible” in the short term.
Koinfinans.com As we reported, in a new video on Tuesday, the analyst stated that BTC was “rejected” by the 200-week moving average last week. At the time of Vays’ video, Bitcoin was trading at around $21,000, with the trader stating in his video that if BTC doesn’t make it above $22,000 in 24 hours, it will “get very ugly”.
Moreover, bitcoin He stated that if it fails to maintain around $20,600, the digital asset will repeat its mid-June price drop and fall as low as $14,000.
“If that fails to hold the middle line, we are very likely to repeat this whole consolidation disaster with a massive crash… if we go back to this lower range.”
On the other hand, BTC made a move to please its investors who did not lose hope, and at the time of writing, it is trading at $ 23,847. The top-ranked crypto asset by market cap has gained more than 7% compared to the previous day. According to crypto analytics firm Coinglass, that price is also above Bitcoin’s 200-week moving average, which is currently hovering around $22,750. But the leading crypto asset is trading well behind its all-time high of $69,044, which it reached in early November.
According to the latest data, the overall crypto market cap has also increased by more than 4% in the last 24 hours.
You can follow the current price action here.
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.