Bitcoin price remained below $ 7,000 when Tone Vays predicted a breakout in April

Bitcoin price fluctuated above $ 9,300, while Stellar (XLM) soared more than 20%

The Bitcoin (BTC) price started to decline by 2% on April 4, but a trader is still confident in a bullish scenario that takes place next week.

Overview of the daily cryptocurrency market. Source: Coin360
Overview of the daily cryptocurrency market. Source: Coin360

Vays: I will buy BTC at 6,400 USD

Data from Coin360 and Cointelegraph Markets shows that the BTC / USD pair was unable to establish support at $ 7,000 on Saturday.

Today, BTC returned to the $ 6,000 area - hitting an intraday low of $ 6,630 before recovering slightly to the current level of $ 6,800.

1-day chart of Bitcoin. Source: Coin360
1-day chart of Bitcoin. Source: Coin360

Despite signs of optimism from investors, Bitcoin's bullish momentum is still weak, which has caused bullish traders - those who are waiting for a quick breakout, to be disappointed.

However, for famous trader Tone Vays, the next 14 days the market will witness a bullish reversal on the weekly chart - the move could also coincide with a breakout on the daily chart. He argues that the more this happens towards the end of April, the better.

"I really like this (ascending) triangle that will appear in late April, as late as possible, the time when people are frustrated that the breakout will never appear - and then it will come," he said. speaking in the latest video of the series Trading Bitcoin YouTube.

“I will accumulate Bitcoin in the area near $ 6,300- $ 6,400, and then at breakout levels if it goes there. It could breakout tonight or tomorrow. ”

The miners prepare for the 3rd halving

On Friday, CoinTelegraph's filbfilb analyst also expressed confidence that Bitcoin bulls are in a very strong position under current conditions and that Bitcoin can push prices up to $ 8,000.

As Toiyeubitcoin reported, this month we will see the interesting behavior of Bitcoin mining companies in particular.

Next week, the cryptocurrency market will witness halving events on two Bitcoin hard forks, Bitcoin Cash (BCH) and Bitcoin SV (BSV) - thereby forcing miners to switch to the Bitcoin network.

Meanwhile, Bitcoin's own halving will take place in about 40 days, by which time miners' income per block will be cut in half from 12.5 BTC to 6.25 BTC. According to some analysts, miner's participation has changed significantly due to the sharp decline in BTC prices in March.

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According to CoinTelegraph
Translated by ToiYeuBitcoin

About My name is Nguyen Manh Cuong. I was born in a poor village in Ba Vi district, HA NOI province - windy and sunny land. Currently. Mr Cuong.
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