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The former Wall Street trader and vice president of JPMorgan Chase, Tone Vays, said that unless the Bitcoin does not exceed $ 5,200, he expects a drop in the price of the BTC.
At a crypto meeting in Philadelphia, Vays said that if the previous Bitcoin report above $ 5,000 had been triggered by a single whale, the recent rally would not be sustainable.
"I'm definitely looking more bearish than bullish right now. If we can go back to $ 5,200 and stay there, I can become optimistic again.
I would not call that a race up. All this happened in two days, okay. So, two days do not make a race. This therefore looks like a single big purchase that has been recorded in the order book. So it's a very short term … if it was a single whale shop, that's literally the definition of "unsustainable". And that's another reason to assume that we will go down. "
Meanwhile, a technical gauge that accurately predicts the lows of the 2015 bear market is flashing.
Mayer's multiple (MM), which uses the 200-day moving average to identify market trends, has surpassed the crucial level of 1.0, indicating that the current market cycle has already reached a floor.
Think that the MM will be greater than 1.0 for a moment. The next time it will appear above 1 after that will signal the bull market. pic.twitter.com/LAzVBgc5pl
– jimbonaut ?⚡️? (@hexlib) April 6, 2019
At present, the crypto market is mainly in the green. Bitcoin is up 2.21% to $ 5,177. Ethereum is up 6.76% to $ 166.34 and the XRP 0.83% to $ 0.3237.
Technical analysts are looking for more than $ 5,000 worth of Bitcoin consolidation, while monitoring Ethereum, XRP and Litecoin resistance levels.
Bitcoin
CoinDesk – Price hurdle could pave way for next Bitcoin breakthrough
FXStreet – The BTC / USD key bounces with the key – Cryptos in the green again
NewsBTC – The price of bitcoin struggling in a $ 500 range
Ethereum
Coinspeaker – After escape, $ 168 may be the price target
NewsBTC – Ethereum bulls are not exhausted yet
XRP
Forex Crunch – XRP price supported by a battery ranging from $ 0.317 to $ 0.318
Blockonomi – $ 0.3225 and $ 0.3240 maintaining critical resistance levels
litecoin
FXStreet – High level of resistance created at $ 84.40
Crypto Daily – LTC / USD struggles with technical resistance around $ 83.71
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