Crypto Trader Who Managed Bitcoin’s 2018 Collapse Predicts Major BTC Shift – Here’s His Target
The veteran crypto trader who predicted Bitcoin’s crash during the 2018 bear market warns that a similar type of meltdown could be looming for BTC.
Veteran trader Tone Vays tells his 121,000 YouTube subscribers that Bitcoin appears to be following its May price action this year when it showed signs of recovery before eventually collapsing.
“Right here (May 2022) was the move down and it flirted like a flirt with the top but then it still crashed. And then [now]the same thing is happening and the same thing has happened in the past.”
Source: Tone Vays/YouTube
Vays adds that Bitcoin’s current price action is also a reminder of how BTC performed between July and November of 2018. Back then, Vays called for the break of the $6,000 support months before it actually happened.
According to Vays, Bitcoin has a tendency to confuse traders before it makes its big move.
“[Bitcoin] doesn’t do what it’s supposed to do until it finally works.”
Source: Tone Vays/YouTube
“The obvious trade here is a big drop, but that doesn’t mean the big drop won’t happen next week or the week after, which is why I’m not at all interested in bullish trades at the moment because I’ve watched the movie play many times …
It won’t look promising to me until we set $25,000 as the new bottom. Then it gets interesting.”
Source: Tone Vays/YouTube
Looking at the trader’s chart, he appears to be predicting a massive drop to around $11,900, indicating over 45% downside risk from BTC’s current price of $22,000.
I
Don’t miss a thing – Sign up to receive crypto email alerts straight to your inbox
Check the price action
Follow us on Twitter, Facebook and Telegram
Surf the Daily Hodl Mix
Check the latest headlines
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/klyaksun/Sensvector
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.