Bitcoin traded yesterday and reached a high of $63,666 as it faces further depreciation. Before the return of rising momentum, purchasers will have to lift BTC’s price over the $64,000 high, as previously said. Bitcoin appears to be stuck in a range for a few days below the $64,000 high. As buyers attempt to retest the resistance level, the king currency is stabilizing below it today. At the time of writing bitcoin is trading at $60,529.
Bitcoin’s price regression from the $60,000 level was dubbed the “second leg” of what appeared to be a long-term bull market by PlanB, the author of the popular Bitcoin Stock-to-Flow (S2F) model.
Tone Vays, a seasoned crypto trader, believes a critical price level will work as a breakout line for Bitcoin’s next price surge.
Vays claims in a new strategy session that he expects BTC Price to fall much more to around $54,000, but that this may not happen.
According to Vays, one more green daily close will bring BTC extremely close to $64,000, which he refers to as the “breakout line” for the king cryptocurrency. He believes the barrier of around $66,000 is insufficient to prevent additional climb.
Like mid-October into late December, I’m expecting us to go from that $65,000 all the way to $100,000. That is still my target.”
William Clemente, an on-chain analyst, is leading the market with one of the most bullish forecasts yet. In a recent tweet, he predicted a large Bitcoin closing price.
The Delta top model is currently at $117,000, and it’s starting to trend upwards. We still have a long way to go, in my opinion. Is based on an investor cost basis and mean reversion, so as prices rise, it will likely finish up closer to $150k-175K by the end of the year, but that’s just an estimate.