Wall Street founded and crypto strategist Tone Vays says he expects Bitcoin to end 2020 with a bang. Vays said he believes Bitcoin will continue its uptrend as technical indicators give bullish signals.
Tone Vays’s Bitcoin prediction gives hope
Tone Vays relies on the relative strength index (RSI), moving average convergence / divergence (MACD), and Chaikin Money Flow (CMF), which are technical indicators that reveal the strength of an asset’s trend and momentum.
The daily chart RSI is back in the overbought territory, which tells us to stay in your bullish trade for now. The MACD is in a nice area and says the same. We don’t know when he will be back. And the CMF is also on the rise. So there is not much to scare us here.
We can walk over $ 28,000
Saying that he is on the side of the bulls, Vays expects the leading cryptocurrency to exit consolidation and rise to an all-time high.
We look at the daily chart. I drew this mini triangle case that goes on. We got the green star. I believe this green star will last until the end of the day, and that pretty well prepares us for a jump.
There are two ways to look at the bounce size. One way to look at this is to take the move, which is a $ 4,000 move from the breakout area, like an average move, and move it forward from consolidation. This would be another $ 4,000 move that gets us just over $ 28,000.
However, not all traders expect Bitcoin to explode yet. The crypto strategist Smart Contracter, known in the industry for setting the bottom of Bitcoin’s 2018 bear market, says the leading cryptocurrency expects it to continue its horizontal consolidation before hitting its all-time high in early 2021.