Veteran dealer Tone Vays says Bitcoin is now within the technique of concentrating on $100,000 inside the coming months.
In a brand new technique session, Vays predicts a repeat of Bitcoin’s sizeable rally from late July to early September the place BTC surged from $32,000 to $52,000.
Based on his trademark momentum reversal indicator (MRI), the seasoned crypto dealer expects robust rallies for BTC earlier than hitting resistance simply above all-time highs round $68,000.
“I’m most likely going to anticipate a repeat of this example, and if we make a repeat of that scenario, that takes us proper into a brand new all-time excessive at $68,000 or perhaps slightly bit much less. We will most likely have vital resistance on the MRI resistance line and after getting caught there, most likely into November, perhaps as late as mid-November, I then anticipate an enormous breakout from this space $(68,000) into the $100,000 space into finish of yr or via the top of yr into January-February. Either means, these are my targets. I stay very bullish proper now.”
Vays says he sees Bitcoin threatening to take out its all-time highs probably early subsequent month earlier than making a parabolic transfer into the six-figure worth vary by the point 2022 rolls round. He posits that BTC may explode in October the identical means it did in 2013.
“Just like earlier than, in early October or mid-October, I anticipate us to start out difficult the prior all-time highs after which an enormous run-up on the finish of the yr. Like mid-October into late December, I’m anticipating us to go from that $65,000 all the way in which to $100,000. That continues to be my goal.”
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