Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Tone Vays Says Bitcoin Appears Ready for Big Breakout As Crypto Analysts Plot Ethereum and XRP Trajectories

by Daily Hodl Staff
October 20, 2020
in Bitcoin, Ethereum, Ripple and XRP
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
ADVERTISEMENT

Wall Street veteran and crypto strategist Tone Vays believes that Bitcoin is likely on the verge of a breakout as BTC flashes bullish signals on multiple timeframes.

Vays says BTC is poised to breach resistance at $12,000 and mark a historic milestone on the weekly chart.

“If you get a new weekly high close right around $12,000, this is a very bullish sign. That means we have the highest close in three years… That would be the highest close since January 8, 2018…

It also means that on a weekly scale, there have only been one, two, three, four, five, six weeks that would have closed higher in the history of Bitcoin. That is incredible. This is absolutely incredible.”

Vays also highlights that based on the daily timeframe, Bitcoin looks ready to move higher.

“[I] just glanced the daily chart. The last time I did this video was like three or four days ago. I put in this little channel. This was my breakout line at $11,550. We broke that this morning. Got another green star. Everything is lining up right now: the weekly, the daily… I’m loving this, man. I think we’re ready for that breakout.”

ADVERTISEMENT

While Vays is bullish on the largest cryptocurrency by market cap, another prominent trader notes that BTC’s historical price action and a pullback in the stock market may not bode well in the short-term. Crypto strategist and trader Smart Contracter references the price action early this year, which signals that BTC may revisit its March 2020 lows.

“BTC starting to look it did in Feb this year before we had that final capitulation low. Something to keep in mind, plus weekly SP500 close wasn’t too crash hot, kind of looks like a double top, and a test of 3,200 range lows on the cards.”

Source: Smart Contracter/Twitter

As for Ethereum, closely-followed trader Michaël van de Poppe says the second-largest cryptocurrency is poised for the next leg up if BTC continues to show signs of strength.

“We have to hold here (around $370). Get a compression going. If we get that compression going and test the highs again around the resistance area of $390, I think we can make a break out towards $440 at a relatively fast pace. That’s because also given the fact that we’ve got this frequent tests over here (around $390). That one more test will most likely cause the price to break through and make a rally towards $440.”

Meanwhile, a popular analyst on TradingView is telling his followers that XRP is also poised for a breakout rally if it holds historic support of $0.23.

“XRPUSD is in a situation where it needs to show how good it can hold the established supports and to form a decent breakout from this point as it is marked in my chart.

When XRPUSD shows up with this and moves above the upper boundary with a decisive volatile move it will finally confirm the descending-channel-formation properly to the upside and activate further movements. This perspective is also matching with the inverse head and shoulder formation XRPUSD is building here I mentioned already in the past analysis.”

Source: VincePrince/TradingView
I


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/camilkuo
Submit a Press Release

Crypto Livewire – Press Releases

  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,018.00
$49,018.00
4.97%
Ethereum
$1,550.86
$1,550.86
3.64%
Binance Coin
$241.54
$241.54
5.07%
Polkadot
$36.23
$36.23
5.54%
Cardano
$1.20
$1.20
4.91%
XRP
$0.452578
$0.452578
0.59%
ADVERTISEMENT

Spotlight

  • Confusion Over Billion-Dollar Whale Transfer May Have Triggered Crypto Crash, According to On-Chain Analyst Willy Woo
    February 25, 2021
  • This Highly Misunderstood Altcoin Is Set To Explode, Says Crypto Trader Tyler Swope
    March 1, 2021
  • $630,000,000 in Bitcoin Just Left Coinbase, According to CryptoQuant
    February 26, 2021
  • Google Spotlights Bitcoin, Ethereum and Litecoin in New Finance Crypto Section
    March 2, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.