Veteran crypto trader Tone Vays states that he’s expecting a slight pullback as Bitcoin continues rising very quickly.
More so, Tone Vays explains In a recent live stream during the rumored approval announcement of a Bitcoin (BTC) exchange-traded fund (ETF). He expects BTC to reach a high of around $62,000 by the 19th of October.
“We are right on track for what I anticipated in the daily outlook where…”
“we top out at approximately $62,000 a the end of this week or early next week…” Also, Tone Vays adds,
“October 19th is where I was looking for that top…”
“So we got about three or four days to go. Especially if we keep going up and up and up.”
As per taking profit before any pullback, Vays states it depends on whether Bitcoin hits certain targets. While, noting how it has gone up almost 50% in weeks.
“It probably is a decent time to take your profit for a pullback because…”
“It would have gone up way too far way too quickly…” Tone Vays adds,
“Three weeks ago the price was half of what it is today…”
“we are rising fairly quickly and there will be a pullback…”
“but right now the weekly chart is fully bullish and you still have room.”
Furthermore, Tone Vays notes that with a fast rise, there is a bigger probability for a fall. Thereby, making predicting of a pullback to around $53,000 or $54,000. However, still maintaining his end-of-year target.
“Bitcoin is looking great I’m still thinking mid-60s for a double top with April,..” Then, Vays continues,
“A pullback to maybe mid-50s, and then I still got a shot at being right…”
“about that $100,000 at the end of the year. I’m still optimistic.”
Lastly, Tone Vays concludes.
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