Tone Vays, a senior analyst, believes that Bitcoin (BTC) is poised for a big breakout in the coming weeks.
In a new price evaluation session, Vays told 114,000 YouTube subscribers; He says he believes the next short-term target for BTC is $52,000. The analyst is expecting fireworks when the top cryptocurrency reaches this level.
“I continue to believe that once we break the $52,000 level, we will hit $65,000 very quickly. Afterwards, we will likely see a slight pullback to the low $50,000 range and then once we break above $65,000; We’re going to have a big explosion, accelerating like gasoline on fire.”
According to Vays, Bitcoin; recently experienced a “golden cross” that occurred when the short-term moving average broke above the long-term moving average. This technical pattern is often seen as an indication of a break in the horizon.
“We were successful in achieving the Golden Cross. And I believe we will break above all moving averages in the coming weeks; We will hit new highs and then break above all-time highs.”
As for key levels to watch, Vays carefully watches $41,000 as a crucial support level to hold.
“This low level [40.238 dolar] and also this low level [41.677 dolar] I believe the probability of retention is more than 50%. I believe we are on the verge of an uptrend and the price of Bitcoin [41.000 doların] I will admit that I was wrong if it falls below…
Bitcoin tonight [21.03] As long as it stays above $41,000 and especially if Bitcoin can break above the $43,500 swing high; I will continue to be very, very optimistic.”
According to CoinGecko, Bitcoin is trading at $44,208 at the time of writing.
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.