Is Bitcoin’s Correction Already Over? Analysts Forecast Future of Leading Crypto

Two widespread crypto analysts reveal their views on Bitcoin’s performance after the leading cryptocurrency bounced off a seven-day low of $ 16,351.

Wall Street veteran and crypto strategist Tone Vays shows in a new video tells Its 95,000 YouTube subscribers are waiting for Bitcoin to give it a clear signal before it hits the market.

“We’ll wait and see … The daily chart is also currently in an absolute no-trade zone. I was looking for a slightly deeper correction in the $ 14,000 area, which is less than $ 15,000. We didn’t get there.

It appears we have hit a low of just over $ 16,000 so far. Now that we’ve hit a low of just over $ 16,000 and created a point in the middle of nowhere to reverse the price, I’ll wait for us to break that pink line ($ 19,000) to be bullish on the current rally … At the moment I’m not buying this dip. I’d rather buy the breakout than the dip. “

Vays predicts that we will see a new all-time high when bulls hit key levels.

Source: Tone Vays

“I’d rather buy above the purple line and watch it climb to $ 30,000 as I think that’s most likely the next time we break $ 20,000. Breaking $ 19,000 at this point is nearly $ 20,000 because they’re so close together. The momentum we’ll have when we break USD 19,000 next week is enough to take us to a new all-time high, but I’m not buying that dip yet. ”

Michaël van de Poppe is now crypto analyst Outline Two possible scenarios that can play out, both of which depend on Bitcoin to maintain a crucial area.

“As long as it holds $ 16,000, we won’t get another drop. However, if we fall south then $ 14,000 around that previous high is the area to watch. I think once we get to $ 14,000 the majority will be watching $ 12,000, and I don’t think we’re going to get to $ 12,000. That would be a very tough correction. I think $ 14,000 is also the 0.382 Fibonacci level and previous high that used to flip support resistance.

The second scenario is that we get the Chopperino like we had after the halving. And in this case you see that we did the test of the previous OB (order block) like here, and after that we just see that the price goes sideways and gives support. In that perspective and light, we will most likely receive a rejection in the area we discussed between $ 18,000 and $ 18,600. After that we will fall south … If we maintain and rise back up the support at USD 17,100, then you may argue that we are not getting any further corrections. ”

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