Bitcoin has to pull hard this weekend to rally next week, says cryptanalyst Tone Vays

A popular cryptanalyst believes that Bitcoin (BTC) should soon retire if traders want to see higher highs next week.

In a new market update, cryptanalyst Tone Vays tells its 115,000 YouTube subscribers that BTC could break out when it breaches $ 63,000. But he first expects a move down to the $ 55,000 region.

“I’m not that excited about this. But we can now lower our breakout range to $ 63,000. If the price of Bitcoin goes above $ 63,000, we’ll break the previous swing high ($ 66,900).

What I really want to see is another retreat. I’ll see us retire this weekend, hard. Pull back right into the $ 55,000, and then bounce right out of it. “

After reaching a new record high of just under $ 67,000 this month, BTC cools and consolidates above $ 60,000. At the time of writing, Bitcoin is trading at $ 62,586, according to CoinGecko.

Vays believes that a $ 55,000 Bitcoin would provide a great access option, but does not rule out a slightly larger correction until it rises to $ 100,000.

“I think it’s the lowest. I really think if we drop to $ 55,000 or $ 56.0000, then it’s a great buy-the-dip situation …

My worst-case scenario is really $ 52,000 or $ 53,000. This is my worst-case scenario. I do not see us going under this support area and so I still see $ 100,000 around the end of the year. I expect a huge rally every moment. ”

In September, Vays accurately predicted that Bitcoin would take its previous records in mid-October. The next part of his prediction requires a six-digit BTC in late December.

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