Veteran crypto trader Tone Vays says Bitcoin (BTC) should finish its recent correction relatively soon before going on a sharp rally to six figures.
In a new strategy session, Vays says BTC’s recent price action looks reminiscent of July, when the flagship crypto fell to a yearly low under $29,000 before rallying aggressively to $52,000 in less than six weeks.
“We’re in a very similar environment to what happened back in July. It’s crazy how we’re already in the middle of September. A lot of time has passed and this to me looks incredibly similar… I would like to see a spike down tomorrow or the next day, taking us into that $43,000 range with a big follow through to the upside then after.”
According to Vays, Bitcoin is likely to briefly drop lower and present traders with a chance to buy BTC near the $40,000 level.
“I just think there will be one more low coming in…