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Veteran Crypto Trader Tone Vays Says Bitcoin (BTC) Is Priming for a Major Move 

Tone Vays, a seasoned cryptocurrency analyst, predicts that Bitcoin (BTC) will likely experience an adverse move before a bullish cycle can be confirmed.

Vays tells his 123,000 YouTube subscribers that Bitcoin is likely to fall by more than 13% from its current price before a meaningful rally can occur.

“I still believe there is a good chance of one more capitulation, down into the sub-$15,000 range.”

At the time of writing, Bitcoin is worth $17,154.

The veteran crypto trader says his short-term bearish sentiment stems from the belief that Bitcoin stayed in a range for too long after plunging to two-year lows in November, which he notes is unusual behavior when an asset’s price has bottomed out.

“The main reason I believe that is because we spent far too much time at $16,000 lows.”

The way markets usually bottom is that you only have a few hours to buy the perfect low. You don’t have a week to consider buying the perfect low.

You either have a limited amount of time to purchase the perfect low, or it spends so much time at the perfect low that people do not believe it is low. This is why I am still concerned about another capitulation.”

According to Vays, Bitcoin entry opportunities will emerge once the flagship crypto asset capitulates or confirms a rally.

“Either we crash below $15,000, which would be a fantastic buy-the-dip opportunity. “Alternatively, you can wait and buy the breakout above $21,500.”

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.