Tone Vays is a popular crypto analyst and he believes Bitcoin (BTC) will see a sharp decline this weekend in order to achieve another spike.
Furthermore, Vays explains BTC could break out once it touches $63,000.
However, he expects a sharp decline to $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).”
So, Tone Vays continues.
“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.”
Currently, Bitcoin is trading at $62,586, according to CoinGecko.
Additionally, Vays believes at $55,000 Bitcoin will be in position for a great entry opportunity. However, he still maintains a $100,000 is close.
“I think that’s the low. I really think that if we fall to $55,000…”
“or $56,0000, that’s a great buy-the-dip situation…”
So, Tone Vays explains further.
“My worst-case scenario really is $52,000 or $53,000. It’s my worst-case scenario…”
“I don’t see us breaking below this support area, and then…”
“I still see $100,000 around end of year. I’m expecting a huge rally any minute.”
Then, Tone Vays concludes.
Recall, In September, Vays accurate prediction see Bitcoin taking out its previous all-time highs in mid-October
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