𝐁𝐒𝐭𝐜𝐨𝐒𝐧 𝐫𝐞𝐜𝐨𝐯𝐞𝐫𝐲 𝐩π₯𝐚𝐧𝐬 𝐚𝐟𝐭𝐞𝐫 𝐝𝐒𝐩𝐬

Popular crypto trader Tone Vays considers the position of Bitcoin after dipping to below $42,000 within minutes.

Furthermore, Tone Vays notes that if stock markets can have a rally in the early stages of the week, Bitcoin may have a chance to hit $53,0000 again.

More so, Tone Vays highlights that Bitcoin has a V-shape reversal back into a bullish trend. Also, he notes that there’s a strong buying demand as when Bitcoin hits $42,000 from $47,000

So, Tone Vays explains.
β€œI do think this is going to be like a V-shaped reversal…”
β€œYou’re not going to get another chance to buy this dip. If you happened to go to the bathroom…”
β€œduring this crash from $43,000 to $41,000, you kind of missed it…”
β€œOn an hourly scale, you only got less than an hour between $47,000 and $41,500…”
β€œYou did get another chance to buy at $47,000, but you didn’t get a chance to buy sub-$45,000.”

Additionally, Tone Vays explains what’s in expectations after the dip last weekend. Then, He points out that Bitcoin is in a position of hitting new all-time highs this year.
So, as per Tone, Bitcoin’s daily candle on December 4th is showing a spring-like catalyst for a new uptrend.

Then, Tone Vays adds.
β€œBecause of the way this candle manifested itself,..”
β€œThere is now a higher probability that of a new all-time high this year than there was yesterday…”
β€œWhen the candle was higher because, on yesterday’s candle, it still had the high chances…”
β€œof being a slow drag down decline followed by consolidation…”
β€œBut the V-Shaped move actually creates additional upwards pressure of FOMO [fear of missing out].”

Currently, Bitcoin is trading at $51,030, about 26% from all-time high above $69,000.

Source: bitcoinworld.co.in

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