Experience cryptocurrency analyst Tone Vays, who issued a statement after Bitcoin (BTC) quickly climbed above $11,000, suggested it was underpinning an all-time high.
In an analysis video he shared on YouTube on July 27, Vays argued that the price of Bitcoin, which dates back to $20,000 in December 2017, could set another record in 2020. He noted that all conditions were favorable for bitcoin on the market. only one more technical signal is needed.
Not like 2019
Highlighting bitcoin’s growing Sunday dominance, the veteran analyst said the BTC price during this period was taking a different path than the parabolic upswing process that ends in 2019.
The news on July 28 on the dailyhodl site quoted Tone Vays as saying::
“As long as this trend continues, I’m very optimistic about Bitcoin. I think Bitcoin will fall to $ 10,000. Then, just like gold, it can quickly rise to an all-time high. I’m still very hopeful for Bitcoin, HODL, I’m not distorting my position. “
Bitcoin price should stay above $10,000
Tone Vays stressed in its analysis that the price of Bitcoin should continue to remain above the $10,000 level. He said it would take a little more time to strengthen the $10,500 level, which translates from resistance to support overnight.
Vays said he did not trust the rally in 2019:
“I was breaking my HODL positions to pay bills in 2019. Because I didn’t trust the $14,000 rally. This time the rally will rise. Now I’m much more positive than my view at the start of 2019. “
Vays, on the other hand, said it was vital that Bitcoin bulls keep the price above $10,000. ” A full candle should form on the Trend line, ” Vays said.
“The candle seems to start and end above the trend line. It can be seen as the first step to breaking the sustained trend line. We don’t have to stay above that level for weeks. If you candle $ 10,000 people per week, that’s enough for me. “
The 6-digit asking price for Bitcoin
As quoted by Coin Otağın, bitcoin supporter and commentator Max Keizer suggested that the BTC price would continue to rise until it reached $28,000. Keizer claimed that BTC / USD parity would see a correction when it reached a record high and then move to six-digit prices.