Bitcoin price remains below $ 7,000, while Tone Vays predicts a price rise in April
The lackluster price growth has not impacted overall short-term upside potential, says Vays, who is targeting earnings this month.
Bitcoin price remains below $ 7,000, while Bitcoin (BTC) price started the day with a 2% drop on April 4, but a trader remained confident in a bullish scenario that the next week.
Vays: I’ll buy BTC for $ 6,400
Coin360 and Cointelegraph Markets data showed that BTC / USD failed to establish a support of $ 7,000 at the beginning of the weekend.
On Friday, the pair returned to the $ 6,000 zone, hitting daily lows of $ 6,630 before a slight rebound to press time levels closer to $ 6,800.
Despite encouraging signals from investors, the price momentum remained decidedly weak for Bitcoin, and bullish traders looking for a quick exit were disappointed.
For Tone Vays, however, the next fourteen days should see a bullish reversal for the weekly chart, which may also coincide with a breakdown of the daily chart. The later in April this happens, he argued, the better.
“I would love for this (ascending) triangle to extend until the end of April as much as humanly possible, while everyone is frustrated that the leak will never come, and then it comes,” he said in the latest episode of his YouTube series, Trading Bitcoin. .
“I will accumulate Bitcoin in this zone from $ 6,300 to $ 6,400, and then again at the breakout level if we get there. We could break tomorrow, we could break tonight.”
Miners prepare for 3 halvings
On Friday, Cointelegraph Markets analyst filbfilb also believed that Bitcoin bulls were in a “strong” position under current conditions and that they could bring the market closer to $ 8,000.
As Cointelegraph reported, this month will see interesting behavior among Bitcoin miners in particular.
Next week halving events will be seen at two forks, Bitcoin Cash (BCH) and Bitcoin SV (BSV), which will force mining resources towards Bitcoin itself.
Bitcoin’s own halving will occur in about 40 days and will reduce miners’ revenue per block from 12.5 BTC to 6.25 BTC. According to some, the miners’ share has already changed due to the decrease in BTC prices in March.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.