Well-known analyst and trader Ton Weiss warned of a possible drop of bitcoin. He believes that the price will fall below $ 5 thousand in July. His assumptions he builds on the fact that the movement of quotations of the first crypto currency this year can be compared with the situation on the market in 2014, when in just a year the price of bitcoin fell from about $ 800 to almost $ 300 per coin.
Trader Tom Weiss on Twitter recalled that a few months ago he warned about the bear market of bitcoin, and confirmed that he expects BTC below $ 5 thousand.
"It's been a long time since I published this BTCUSD schedule. It's pretty boring and really takes time. My most optimistic bearish goal for bitcoin remains at $ 4975 in the first half of July. I will update my expectations for future levels after reaching this, "wrote Ton Weiss.
He does not believe that the drop in the price of bitcoin over the weekend is due to the break-in of Coinrail and the sell-off in the markets that caused the quotes to drop to $ 6,700. Not only the price movement, but also the relative strength index (RSI), the convergence / divergence of moving averages (MACD) and stochastics confirm a trend similar to the one that emerged after previous highs of BTC in late 2013, the analyst believes.
Recall that the co-founder of Fundstrat Global Advisors, Tom Lee (Tom Lee), continues to insist on his forecast of a sharp increase in quotations bitcoin in mid-summer.
Legal Disclaimer: I am not a financial advisor. The information provided in this blog post and any other posts is for informational purposes only.it is not investment advice...
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