Former Wall Street vendor and JPMorgan Chase vice president, Ton Vays, says that if Bitcoin can not hold over $ 5,200, it expects the price of BTC to fall.
At a crypto meeting in Philadelphia, Vays says that if reports that the initial pressure of Bitcoin over 5,000 dollars was triggered by one whale are true, the recent rally is not sustainable.
"I definitely rely on more bears than bullock right now. If we can go back to $ 5,200 and stay there, I can come back to stay.
I would not call this to work. All this happened in two days, okay. So two days do not make it on the run. So, this looks like a huge purchase that went through the order book. So, this is a very short term … if this is due to a whale buying trade, then it's literally the definition of unsustainable. And this is another reason to assume that we will go lower. "
In the meantime, a technical meter flashes, which accurately predicted the bottom of the bear market in 2015.
The multiple Meyer (MM), which uses the average 200-day average average to identify market trends, moved above the key level of 1.0, indicating that the current market cycle has already reached the bottom.
I think the MM will be over 1.0 for some time dipped back below. The next time it appears over 1, then it will be a signal for bull market. pic.twitter.com/LAzVBgc5pl
– jimbonaut ?⚡️? (@ hexlib) April 6, 2019
Currently, the crypto market is mainly green. Bitcoin rose 2.21% to $ 5.177. Eterium is 6.76 percent to 166.34 dollars, and XRP is 0.83 percent to 0.3237 dollars.
Technical analysts are asking Bitcoin to consolidate over $ 5,000 while seeing levels of resistance to Ethereum, XRP and Litecoin.
CoinDesk – Price hurdle can pave the way for the battle next leg
FXStreet – BTC / USD jumps key support – crypts into green again
NewsBTC – The battle price fights in the range of 500 dollars
Koenitsa – After the breakthrough, $ 168 may be the target price
NewsBTC – Eterum bulls are not yet out of the woods
Forex crisis – The price of a chimney supported XRP ranging from 0.317 – 0.318 dollars
Bloknot – $ 0.3225 and $ 0.3240 are now key resistant levels
FXStreet – An important level of resistance created from $ 84.40
Crypto Daily – LTC / USD faces technical resistance around $ 83.71
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