Veteran Trader Tone Vays Predicts Bitcoin Breakout
Crypto trader Tone Vays believes that Bitcoin (BTC) is forming a bullish pattern that could lead to a significant breakout. In a recent strategy session, Vays explains that Bitcoin could potentially surge by around 10% from its current price.
According to Vays, Bitcoin is currently displaying a bullish price pattern on the four-hour chart as it consolidates within a clear channel between $34,858 and $33,701. As long as the price doesn’t drop below $33,500, the trend remains bullish. Vays suggests that there is a higher chance of a breakout rather than a breakdown.
If the breakout is confirmed, Vays predicts an eight to 10% rally. However, if Bitcoin retraces, he believes it may find support before reaching the $30,000 mark where key moving averages are located.
As of now, Bitcoin is trading at $34,368.
Hot Take: Bullish Outlook for Bitcoin
Veteran trader Tone Vays has identified a bullish pattern for Bitcoin and anticipates a potential breakout. With the consolidation within the clean channel and no significant drop in price, Vays believes there’s a higher chance of an upward breakout rather than a breakdown. He predicts a rally of around 10% once the breakout is confirmed. On the other hand, if Bitcoin retraces, Vays expects it to find support before reaching the $30,000 mark. Currently trading at $34,368, Bitcoin’s future movements will determine whether Vays’ predictions come true.
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