Bitcoin Needs To Pull Back Hard This Weekend in Order To Rally Next Week, Says Crypto Analyst Tone Vays.
31 Oct 2021, 08:00
Bitcoin Needs To Pull Back Hard This Weekend in Order To Rally Next Week, Says Crypto Analyst Tone Vays
A popular crypto analyst thinks that Bitcoin (BTC) is due for a quick pullback soon if traders want to see higher highs next week.
In a new market update, crypto analyst Tone Vays tells his 115,000 YouTube subscribers that BTC could break out once it breaches $63,000. But he’s expecting a move down to the $55,000 region first.
“I’m not too thrilled with this. However, we can now lower our breakout area to $63,000. If the price of Bitcoin goes above $63,000, we’re gonna break the prior swing high ($66,900).
Now what I really wanna see is one more pullback down. I wanna see us pull back this weekend, hard. Pull back right into $55,000, and then bounce right off of that.”