Bitcoin is currently in the process of targeting $ 100,000 in the coming months, according to veteran trader Tone Vays.
In one Strategy meeting New, Vays predicts a repeat of Bitcoin’s sizeable rally from late July to early September, when BTC rose from $ 32,000 to $ 52,000.
Based on their Momentum Reversal Indicator (MRI), the trader expects a strong rally for BTC before encountering resistance just above the all-time high of $ 68,000.
“I would probably expect this situation to repeat itself, and if that happens, Bitcoin will hit a new all-time high of $ 68,000 or maybe a little below. It is likely to face significant resistance at the MRI resistance line and after getting stuck there, possibly in November (mid-November at the latest) then I expect a major breakout out of this area – late or January-February 2022. Those are my goals . I’m still very optimistic at the moment. “
Vays said Bitcoin may hit an all-time high early next month before moving parabolically into a six-digit price range by 2022. He believes that BTC could explode in October just as it did in 2013.
“As before, I expect we will start testing all-time highs in early October or mid-October and then have a strong rally towards the end of the year. From mid-October to the end of December, I expect we’ll go from $ 65,000 to $ 100,000. That is still my goal. “
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According to Dailyhodl