Makes a few hours, Tone Vays an expert analyst of Bitcoin that I used to work in the Wall Street stock exchange made a transmission in which she analyzed the jumps in the price of Bitcoin in the last few days, and made some predictions. All this was while he was in Bali.
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Analysis of Vays on Bitcoin
Vays compared during the transmission the weekly chart and the daily price of Bitcoin to be able to draw their own conclusions. Looking at the chart of this week, estimated that looks pretty bullish, and even asserted that there is potential for an increase during the next five weeks. The graphic of the candle of this week is above the three average prices, two of which are elevated. It also stressed that Bitcoin has a floor weekly, which indicates there is potential for 5 weeks of uptrend. Also specified that does not believe in “double tops”. For this reason he stressed that the double top on the daily chart is saying that the price of Bitcoin is more likely to go up. With respect to his personal position, he commented: “If BTC drops enough to find enough economic, I will be interested in buying more”. He also asserted that many times was judged even by not selling your Bitcoin to a time when the price was at its peak. Also, he was accused of selling at the top, to make the Bitcoin go down, and so be able to buy more of this criptomoneda. But now that they dropped, continued to sell at the top since it holds in order to avoid taxes and other related costs. A council which gave to those who exchanged with short-term expectations was to change to a long-term. Always and when the price of BTC to close the week around 9000 USD, I become a bull that is kept on the trend of having Bitcoin. Even, to not go so far, he said that it turns into a bull for at least the month of February The price of Bitcoin according Vays has bullish potential for the next five weeks if you maintain the conditions.
On the daily chart the price of Bitcoin
Then, by analyzing the daily chart, the analyst shared the opinion that I had 2 days ago. In this line of ideas mentioned that I expected the market to continue down for two additional days. Therefore, I was expecting to see 9000 USD before yesterday and a rebound yesterday. The rebound became a graphic sailing very soon, which is unfortunate as Vays because he was not allowed to venture into your trading strategy. You specified that he had seriously considered investing in Grayscale Bitcoin Trust (GBTC) because “right now we are in an environment of premium low”, but he let go of the opportunity. Another tip peculiar is that he does not feel bad when you lose a trading opportunity, since according to him there is almost always “another train in the way”. That’s why when she loses one, does not cry about it but goes and finds another chance, by quoting their words in the transmission.
We have broken the resistance levels on the daily chart, Bitcoin bullish
In terms of the good news, said there is resistance from here on out. So if we’re able to stay about 9000 USD for two or three days, he becomes a bull immediately during the following month. This is due to the breakdown of the resistance levels on the daily chart. In terms of the weekly chart, it has resistance around the $ 10,000 USD. The price little by little is about to break that resistance, and in the words of the expert, it may take two weeks to get there. Considers that as long as we keep the price above the average of 200 days and will not occur, the double tops, in less than two weeks, you can maintain an attitude of bull. Also, spent the last few minutes of its transmission leg to talk a little bit about gold, and other altcoins, but very briefly.
Vays also responded to a question about whether the Coronavirus is the cause of the increase of Bitcoin. To this he replied that the would not go so far, since Bitcoin is an asset not related but if they react to the fear of economic. “Certainly the coronavirus brings a certain fear economic, since the fear of the virus to spread is certainly helping to increase the price of Bitcoin but is not the primary cause,” said Vays. He also added that: “In contrast, if the virus began to spread globally and people start to panic really, in reality would affect the price of Bitcoin more than help you. The reason is that the economic activity would decrease and people would speculate a lot less with Bitcoin”. The following two tabs change content below. A degree in Liberal Studies from the Metropolitan University. Lover of innovation and a believer of the technology for the future.