Here’s Why Bitcoin (BTC) May Have Flashed a Bounce

• A popular analyst pointed out a 50% upside potential for BTC due to the price position around the 100 MA.
• BTC might need more demand at $26,400 to overcome the series of false breakouts.
• The OBV aligned with a bearish market structure since liquidity decreased and the price continued fluctuating.

Crypto analyst Tone Vays stated that Bitcoin’s (BTC) drop should not be a reason for traders to fret. The analyst who hosted a live session with his YouTube community said the $27,500 region has a role to play in his projection.

While explaining how he arrived at a 50% bullish allocation, Vays said, “The region is the catalyst to be 100% bullish in Bitcoin. If we go above $27,500 and close above the red candle, then I would be comfortable that we’re in the bullish market once again.”

BTC Requires an Increase in Buy Orders

Prior to his latest analysis, Vays told his 123,000 subscribers that the SEC hunt on exchanges would not negatively impact BTC for a long while.

And his prediction became reality. After the market decline on the Binance lawsuit announcement, BTC’s price dropped. But when the regulatory commission added Coinbase to the group of excha…

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