28.10.2021

Ton Weiss: Bitcoin breaks out in the coming weeks

Popular cryptocurrency analyst Ton Weiss believes that Bitcoin (BTC) will gain potential for a major breakthrough in the next few weeks .

In a new pricing post, Weiss told his 114,000 YouTube subscribers that he sees the next short-term target for BTC at $ 52,000.

“I still believe that once we overcome the $ 52,000 resistance, we will very quickly rise to the $ 65,000 high.

Then we will probably have a slight pullback to the $ 50,000 range, and then there will be a monstrous breakout that explodes like gasoline on fire, then we rise above $ 65,000. ”

Weiss noted that Bitcoin recently had a golden cross where the short-term moving average crosses the long-term moving average. A technical pattern is often seen as an indication of an upward rally in the near future.

“We received a golden cross. And I believe that next week or so we will be back above all the moving averages and approaching new local highs and then new all-time highs. ”

In terms of key levels to watch out for, Weiss cited $ 41,000 as an important support level that needs to be maintained.

Today, September 24, Bitcoin is trading above $ 44,000

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