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Veteran trader Tone Vays is Bitcoin (BTC) In the near future, Bitcoin charts say they will look “terrible” in the short term.
In a new video on Tuesday, analysts said BTC was “rejected” by a 200-week moving average last week.
At the time of Vays’ video, BTC was trading for about $ 21,000. Traders pointed out that if the Bitcoin pass did not bounce above $ 22,000 in the next 24 hours, it would be “very ugly.”
Vays predicted that if Bitcoin did not maintain the line of about $ 20,600, it would repeat its price plunge in mid-June, plunging to $ 14,000.
“If we do not hold this midline, and if we return to this low range, it is very likely that we will repeat this entire disaster of integration with major failures.”
But BTC does just that, and at the time of writing it is trading at $ 22,763. Top-ranked crypto assets by market capitalization have increased by more than 7% in the past day.
According to cryptanalysts, its price is now almost exactly in line with Bitcoin’s 200-week moving average, which is currently around $ 22,750. Coin glass..
Bitcoin is down more than 67% from its record high of $ 69,044 in early November. Top crypto assets have fallen by more than 2% in the past week, but have increased by almost 10% in the past month.
According to the company, the overall crypto market capitalization has also risen by more than 7% in the last 24 hours. CoinGecko..
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Featured images: Shutterstock / Vadim Sadovski / David Sandron
