Veteran trader Ton Weiss said on September 23 that Bitcoin (BTC) reaching $ 7,000 is now the “worst-case scenario”.

On the final episode of Market Pulse YouTube series, Weiss said he was looking for a base price of 9,000 BTC.

Vays: $ 9,000 BTC is a “very good buy” option.
The BTC / USD pair maintained its $ 10,000 support this week, but has yet to regain higher levels after dropping from $ 11,000 a few days ago.

“If we collapse, I think $ 9,000 is a very good shopping failure,” Weiss said.

“What’s the lowest point in the worst case if we break? My worst case scenario is $ 7,000.”

Weiss added that for him, $ 9000 was the “most realistic” result of the downward trend originating in the bitcoin markets.

“The longer Bitcoin stays longer than $ 10,000, the more optimistic the bitcoin will be.”

“Growth stability is optimistic. The bearish sequence is bearish. ”

Bitcoin is focusing on $ 10,000, which is optimistic from the low of $ 3,600 in March, but less convincing compared to recent highs of $ 12,500. However, to raise $ 12,000, and for Weiss, “the sky is the limit.”

The risk of deprivation cannot exceed 35%.
According to the Cointelegraph report, analysts are consistently making more optimistic predictions about Bitcoin, even though the short-term price action contains additional drawbacks.

This week’s Quantum PlanB analyst highlighted the 200-week cryptocurrency moving average, which has never been breached, as support, as evidence that the true price floor is now $ 6,700. The level will rise next month to match Vays. Forecast $ 7,000.

However, according to Cointelegraph Markets analyst Michael Van de Pope, BTC / USD has so far avoided losing support, opening the possibility of testing the $ 9,600 gap in CME futures.

That gap remains in effect since July, and is the latest noticeable short-term drop in prices at lower levels compared to futures, with the only other reading being much higher at $ 16,000.

Source: CoinTelegraph