There are all kinds of crypto predictions that seem pretty optimistic these days, despite the multiple market corrections. The latest one comes from Tone Vays and it involves the price of Bitcoin.
Check out the complete reports below.
He just explained that he’s remaining bullish on Bitcoin (BTC) despite the top crypto’s momentum oscillators showing weakness.
New BTC price prediction
In a new strategy session, he made sure to explain that Bitcoin’s moving average convergence/divergence (MACD), Relative Strength Index (RSI), and Chaikin Money Flow (CMF) indicators all look “horrible.”
“The MACD is very bearish. RSI…RSI is a little nasty right now, I don’t even want to talk about it, and the CMF is in bad shape. The oscillators look horrible.”
As the online publication the Daily Hodl notes, a crypto asset’s MACD is a momentum indicator formed by subtracting a longer-term moving average away from a shorter-term one.
“An asset’s RSI shows whether an asset is overbought or oversold while its CMF is a metric used to measure the buying and selling pressure of a security over a set period.”
Despite the bearish indicators, Vays explained that he keeps his bullish predictions up for BTC.
“We’re still bullish. My line of concern has not yet been touched. I think today is going to be a good day [for BTC], I think this [most recent downward] candle is just an anomaly to shake people out. Nothing is ever simple in the world of trading so I remain very very bullish.”
At the moment of writing this article, BTC is trading in the green and the king coin is priced above $43k.
There are all kinds of bullish predictions about the most important coin out there as the markets are trying to recover following more price corrections. Stay tuned for more crypto-related news.
