An analyst, who is widely followed and known for holding some of his previous predictions, conveyed his new comments on Bitcoin (BTC), the largest cryptocurrency by market cap. The analyst argues that if BTC ends the week in positive territory, it may go to the “Moon”. Here is the trader’s Bitcoin prediction
Experienced analyst made a new Bitcoin prediction
Experienced and crypto money analyst Tone Vays, who had previously kept some predictions, as we reported as Kriptokoin.com, gave BTC to 120,000 subscribers in a new Youtube video. expressed his expectations for the price. According to the analyst, although the Bitcoin charts have been looking good so far, there are a couple of resistance levels that need to be broken to push the price of BTC higher. Vays also says that the Lucid SAR metric, which is a version of the Parabolic SAR that shows BTC trending, is almost close to giving a bullish signal. Vays uses the following statements:
Weekly chart looks good. We still have a long way to go by the end of the week. Anywhere above the current streams, I’m hopeful I’ll be bullish towards next week. If we get bullish next week, we will probably break the Lucid SAR. It’s like dominoes three or four, and then the last two dominos break and move above these moving averages [about $43,500 and $46,500].
Tone Vays draws attention to $52,000
Tone Vays claims that if Bitcoin exceeds $52,000, BTC could “go to the sky”. Marking $52,000 as “my zone”, the analyst underlines that he expects a major upside move above this line. “This is my line. I don’t have to wait for an all-time high,” he says.
On the other hand, Vays predicts that if Bitcoin is rejected without exceeding the target line and starts to fall, it will move above this line again. If we are rejected on the moving average and continue to decline after the $36,000 low, the line will move to break above the newly established high. At the time of writing, Bitcoin is trading at $44,025, down 0.4 percent.
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