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Tone Vays named the condition for a Sharp Bitcoin Rise 

Tone Vays

Tone Vays named the condition for a Sharp Bitcoin Rise 

Crypto trader Tone Vays explained, in which case the first cryptocurrency will rise in price and aim at the next update of the all-time high.

He warned that before the start of a new wave of growth, the price of bitcoin may adjust to $54 thousand. According to the expert, there is a powerful level of support at this mark.

For a “breakout”, bitcoin needs to gain a foothold above the $64 thousand level, the analyst says. According to him, in this case, the 128-day moving average will cross the 200-day moving average, which will indicate an acceleration of the “bullish” movement.

If the cryptocurrency manages to stay above $64 thousand, then the next goal will be to update the all-time high above $67 thousand, Vays noted. According to him, after the accumulation of volumes, the resistance in the region of $67 thousand with a very high probability will be broken.

On October 27, the bitcoin rate fell to a local minimum of $58 thousand. During the day, the cryptocurrency fell by 7%, and its capitalization dropped to $1.11 trillion, according to CoinGecko. The first cryptocurrency updated its all-time high above $67,000 on October 20.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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