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➡️ $274 Million Secret: Larry Benedict Live Event (Register Below) Whilst the Bitcoin price (BTC) action may seem bearish to some, the leading cryptocurrency has several bullish indicators that hint towards an imminent recovery. As Bitcoin enters…
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➡️ 5 COINS to $5 MILLION REPLAY: The Bitcoin price (BTC) has dropped by more than 25 percent in the past two weeks and is again flashing red, having hit a 3.5-month low earlier today and is on track to post the first quarterly loss of 2019. Are…
➡️ 5 COINS to $5 MILLION REPLAY: Crypto Analysts PlanB well known for his stock-to-flow BTC charts updates his Bitcoin Prediction Model and Luke Martin of Venture Coinist are both beginning to flip bullish on the Bitcoin price. Are Altcoins ready to…
➡️ 5 COINS to $5 MILLION REPLAY: According to crypto analyst Alan Masters, the Bitcoin price is likely to go mid $6,000 next month. He wrote, “BTC is now moving in a descending channel, going lower. Now I am seeing a potential bounce in place or…
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Bitcoin Price ‘Likely’ Bottomed in .7K BitMEX Crash Says Tone Vays | BTC Reclaims .3K
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The Bitcoin price likely reached its low when it hit $3,700 earlier this month, veteran trader Tone Vays has forecast as markets remain up 70%.
In the latest episode of his Trading Bitcoin YouTube series on March 29, Vays repeated his previous claim that, logically, the BTC price should bottom at 20% of its 2019 highs — $2,800.
Vays on $2.8K: “I don’t think it’s likely anymore”
This could occur before May’s block reward halving and not endanger Bitcoin’s long-term perspective, he said, but a dive after that event could have grave consequences.
After March 12, when Bitcoin (BTC) bounced off 15-month lows of around $3,700, Vays now thinks that Bitcoin will not return to put in lower levels.
“I don’t think it’s likely anymore,” he summarized.
“Because I think this incident, this event earlier this month was close enough $2,800 that I’m no longer expecting $2,800.”
Since the bounce, Bitcoin has broadly maintained higher support, with the recovery reaching almost 90% in the subsequent two weeks.
Continuing, Vays suggested that in fact, $2,800 would have appeared during the dive and that it was only the crashing of derivatives giant BitMEX which prevented it.
“If BitMEX did not go down, we probably would have $2,800 and maybe even lower,” he said.
“It’s very possible that if BitMEX didn’t crash, the selling would have just accelerated, but right now, I’m under the assumption that the low is in.”
Bitcoin Price Reclaims $6K as Traders Eye New BTC Futures Gap Above
The past 24 hours had seen the pair dip to lows of $5,870 after signaling weakness throughout the weekend.
Those were short-lived, however, with Bitcoin regaining lost ground within hours.
Now, hopes were high that price action would remain more bullish, allowing Bitcoin to close a new futures gap left at the end of trading on Friday.
The gap lies between around $6,300 and the closing price of Friday’s CME futures session at $6,680.
As Cointelegraph reported, Bitcoin has very often returned to trade at levels left behind by futures markets — before its price volatility surged in mid-March, just one gap remained, much higher at $11,800.
For Cointelegraph Markets analyst Michaël van de Poppe, however, there was overall still a bearish trend in Bitcoin, despite the upside potential posed by the gap.
“The first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first,” he tweeted on Monday.
“This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.”
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$BTC #BITCOINThe first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first.This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.
Still bear pic.twitter.com/bn0BHHRDHd
— Crypto Michaël (@CryptoMichNL) March 30, 2020
https://cointelegraph.com/news/bitcoin-price-reclaims-6k-as-traders-eye-new-btc-futures-gap-above
https://cointelegraph.com/news/bitcoin-price-likely-bottomed-in-37k-bitmex-crash-says-tone-vays
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BITCOIN NOW TARGETING $100K, PREDICTS VETERAN TRADER – HERE’S HIS TIMELINE! EL SALVADOR BUYS BTC DIP
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Veteran trader Tone Vays says Bitcoin is now in the process of targeting $100,000 per BTC within the coming months.
Vays says he sees Bitcoin threatening to take out its all-time highs potentially early next month before making a parabolic move into the six-figure price range by the time 2022 rolls around. He posits that BTC could explode in October the same way it did in 2013.
“Just like before, in early October or mid-October, I expect us to start challenging the prior all-time highs and then a huge run-up at the end of the year. Like mid-October into late December, I’m expecting us to go from that $65,000 all the way to $100,000. That is still my target.”
In other trending Bitcoin News today: El Salvador Now Owns 700 Bitcoin As President Bukele Buys BTC Price Dip!
El Salvador’s President Nayib Bukele confirmed via Twitter Monday that the Latin American nation has bought the “Bitcoin price dip,” exchanging dollars for Bitcoin at a time he believes it remains undervalued by the global market.
The price of Bitcoin was around $45,700 dollars at the time of Bukele’s tweet announcing the purchase, down from highs near $50,000 earlier in the week.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
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