Bitcoin And Crypto Pullback Incoming, Warns Tone Vays
At the moment of writing this article, Bitcoin is trading in the green and the most important coin out there is priced at $8,819.56.
The BTC halving is around the corner, and there are all kinds of expert predictions about the price of BTC before this important event.
Trading View indicators
There are a few technical indicators that are tracked by the social trading platform Trading View are not bullish on BTC and ETH. It seems that the results are mixed when it comes to XRP.
Both BTC and XRP have buy ratings on the daily, weekly, and monthly time frames, as the online publication the Daily Hodl reveals.
Trading View is combining a few signs for the aggregating analysis including moving averages, pivots and oscillators in order to forecast the potential trajectory of the most important coins.
Tone Vays predicts a BTC and crypto pullback
Tone Vays said that he is expecting to see an imminent market pullback – he explained recently that a significant, healthy correction is due after BTC’s big rally.
“Now, because we made it all the way to $9,500, there is a chance that we’re only going to fall to $8,000. However, we will probably fall lower than that…” Vays said.
He continued and explained that “This is just a bit of resistance and now we’re going to be pulling back. The weekly chart is still strong, but the weekly chart has plenty of room to the downside without breaking the weekly bullish trend.”
He believes that Bitcoin will likely move somewhere to the low $7,000 range.
He told his followers that he sold his long positions when BTC was floating around the $9,250 mark and he’s definitely planning on buying the dip.
Check out the video above in order to learn what more Vays had to say about the crypto market.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.