BTC Price Correction
Tone Vays, a well-known crypto analyst, is warning about a looming market correction for Bitcoin (BTC), despite its recent strong performance. He shared his concerns in a YouTube video, where he highlighted the signs pointing to a potentially significant correction. Vays emphasized the need for Bitcoin to break above specific moving averages, setting a benchmark at $44,000 for a bullish stance or a descent to $36,000 for a potential buying opportunity. He stressed the importance of a decisive move either above the $44,000 moving average or down to $36,000, where crucial support factors converge.
Pre-halving Dump Speculation
Vays also addressed the speculation about a pre-halving dump, dismissing the notion and expressing confidence that Bitcoin is unlikely to revisit the $20,000 range, considering $30,000 as the absolute bottom, contingent upon unforeseen catastrophic events. He indicated that historically, such events occur closer to the halving, which is not expected until April.
Hot Take
As the crypto community monitors potential market shifts, Vays’ insights contribute to the ongoing discussions about Bitcoin’s trajectory and the possibility of a notable correction in the near future.
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