Crypto Trader Who Nailed 2018 Bitcoin Collapse Predicts Big BTC Shift – Here’s His Goal
The seasoned crypto trader who predicted Bitcoin’s crash during the 2018 bear market warns that a similar kind of meltdown could be on the horizon for BTC.
Experienced trader Tone Vays tells his 121,000 YouTube subscribers that Bitcoin appears to be following its price action from May of this year when it showed signs of recovery before finally collapsing.
“Right here (May 2022) was the move to the downside, and it flirted with the upside, but then it still crashed. And so [now]the same thing is happening, and the same thing happened in the past.”
Vays adds that Bitcoin’s current price action is also reminiscent of how BTC performed between July and November 2018. Back then, Vays called for a break of $6,000 support months before it actually happened.
According to Vays, Bitcoin tends to confuse traders before they make their big move.
“[Bitcoin] continues not to do what it’s supposed to until it finally does.”
“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, and that’s why I’m not interested in bullish trades at all now because I’ve seen this the movie plays out many times…
It will look promising to me only after we establish $25,000 as the new floor. Then it’s going to be interesting.”
Looking at the trader’s chart, he seems to be predicting a massive drop to around the $11,900 area, implying a downside risk of over 45% from BTC’s current price of $22,000.
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Featured image: Shutterstock/klyaksun/Sensvector
