Ton Weiss: Bitcoin price could drop to $ 54,000

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Crypto trader Ton Weiss warned that before the start of a new wave of growth, the price of bitcoin may adjust to $ 54 thousand. According to the expert, there is a strong support level at this mark. Writes about this RBC Crypto.

For a “breakout”, bitcoin needs to gain a foothold above the $ 64 thousand level, the analyst says. According to him, in this case, the 128-day moving average will cross the 200-day moving average, which will indicate an acceleration of the bullish movement.

If the cryptocurrency manages to stay above $ 64 thousand, then the next goal will be to update the all-time high above $ 67 thousand, Weiss noted. According to him, after the accumulation of volumes, the resistance in the region of $ 67 thousand with a very high probability will be broken.

On October 27, the bitcoin rate fell to a local minimum of $ 58 thousand. During the day, the cryptocurrency fell by 7%, and its capitalization dropped to $ 1.11 trillion, according to CoinGecko. The first cryptocurrency updated its all-time high above $ 67,000 on October 20.

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