Crypto

The Popular Tone Vays Officially Addresses the Crypto State

Tone Vays, the veteran trader, said lately that he is patiently waiting for the best time to buy BTC amidst the dip in the price currently

Tone Vays, the veteran trader, did say that he is patiently waiting for the best opportunity to start buying Bitcoin amidst the bearish actions of the price which we are witnessing lately.

Vays said in a new video that he believes that the Bitcoin will likely keep its downward trajectory and take out its support at the level of $30K unless the bulls show up into the picture.

“We need to get back into this triangle sometime this month. Otherwise, this is the future. This is the path for Bitcoin. Hopefully it happens, say, next month and maybe it’ll end at around $23,000”.

Vays says that if we take a quick look at the weekly chart, we will see that the Bitcoin seems to be absolutely terrible as it is flashing many bearish signals.

“We are in the process of forming a brand new weekly closing low, which is problematic. Potentially, this is going to be the second-lowest closing low in about a year, in over a year, and that’s not a good sign. That’s not a bullish sign…” He continued and said the following: “When something is falling, I don’t just jump into catching a falling knife. You need some kind of reason to do it and feelings is not a reason. You either need technical analysis or some kind of fundamental change or enough time has to go by“.

Moreover, Vays has a very gloomy view of Bitcoin, as he said that it will probably take multiple month before the largest cryptocurrency can carve out a bear market bottom.

“I will be a buyer of Bitcoin at the low at the end of the year. If Bitcoin continues to just struggle and go down and down and down and down and here we are in November sitting at $25,000, I’m going to take that as the bear market has ended, according to time”.

Bitcoin BTC is trading by the time of writing this article in dark dark dark red at the price of $34,685.62.

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