Home Bitcoin News Bitcoin bull predicts an imminent rollback of the bitcoin exchange rate

Bitcoin bull predicts an imminent rollback of the bitcoin exchange rate

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Well-known cryptocurrency trader Tony Weiss believes that against the background of the rapid growth of the bitcoin exchange rate, its rollback is inevitable

Earlier, against the background of the possibility of approving an exchange-traded bitcoin fund, Weiss predicted an increase in the asset rate above the $62,000 level by October 19. As you know, his forecast came true a little earlier and the BTC rate reached this level on October 16.

Regarding profit-taking before any potential rollback, Weiss noted that a lot depends on bitcoin achieving certain goals, because in a matter of weeks it has grown by almost 50%:

“Perhaps now is the right time to take profits before the rollback, as the rate has soared very high and very quickly. Even 3 weeks ago, the rate was significantly lower, which indicates a fairly rapid growth. But there will definitely be a pullback, although the weekly chart looks bullish and there is still room for maneuver”

According to him, a rollback is possible to about the range of $53,000 – $54,000, but Weiss still believes in achieving the course set by him at the end of the year:

“Bitcoin’s prospects look great. The pullback may be up to the middle of the $50,000—$60,000 range. Then I have a good chance not to lose with a forecast of $100,000 as of the end of the year. I am still optimistic”

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