In a new video, Vays told his teeming YouTube subscribers that he does not want Bitcoin to break the $35,000 resistance level on its first attempt as it may end badly for the flagship cryptocurrency.

Read Also: Legendary Trader Tone Vays Issues Bitcoin Warning, Says BTC Surge to $24,000 Level Was “Way Too Fast”

Back in 2019, according to the veteran trader, BTC experienced a relatively 200% rally in four months, and remained stagnant for more than a year, followed by a sudden 70% price crash.

Vays, in the video, attributed the 70% price crash to the speed of the BTC price surge at the time. He said the king crypto failed to build stronger bases that are capable of absorbing the sell-offs that followed.

He said instead of this rapid rise from the bottom, he prefers slow and steady growth for BTC.

The trader further added that if Bitcoin were to break the $35,000 level in the coming months, it may rally all the way back up to somewhere between $50,000 and $60,000.

Read Also: Popular Trader Updates XRP Price Outlook, Warns Investors on Current Bitcoin (BTC) Price Action

Tone Vays noted:

“If we rally all the way to say $50,000, we can easily crash back down to $25,000 or $30,000. But if we slowly go up to $50,000, I think the chances of going back to $30,000 are going to be super low.

“So in a perfect world, we slow our roll right now, go up a little bit [this] week, maybe touch $30,000, pull back down to $25,000 and then break $30,000, head to $35,000, go back from $35,000 down to $30,000, then break $35,000 [again].

“If you break $35,000 sometime this summer, then surely we can go up to $50,000 or $60,000 and then only pull back to about $30,000 or $40,000. And we can avoid the $20,000s ever again.”

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The post Here’s why Tone Vays Says He Does Not Want a Repeat of 2019 Parabolic Rally as Bitcoin Targets $30k appeared first on Times Tabloid.

In a new strategy session, Vays told his teeming YouTube subscribers that Bitcoin failed to attain a critical support level, which could cause a short-term price decline.

Read Also: Economist Alex Kruger States Why Bitcoin (BTC) Surging by Over 40% from $23K Is Feasible

The legendary strategist stated that BTC narrowly escaped a pullback earlier in the cycle, but the escape could be temporary. Vays said traders should expect a notable pullback in the coming weeks.

The analyst further stated that he expects BTC to dip toward the $20,000 level, adding that if it happens to drop below that, he plans to allocate more of the crypto asset to his portfolio.

Howbeit, he pointed out that the only scenario that could land BTC below that price is another FTX-like catastrophe within the crypto industry.

Tone Vays noted:

“We got rejected by a very critical resistance level [$25,500]. I have been warning about this level. I have said this is a very challenging time to navigate because had we rallied right into [a] death cross [on February 13th], it would have been obvious that there was time for a really significant pullback, but we turned earlier and the pullback was not very deep, so now we’re in a situation where the real pullback might be coming over the next few weeks…

“Don’t be surprised if we end up falling down to $20,000. Though I don’t think we’re going to fall too much further below $20,000. [That price] is my ultimate buy the dip… Pending some monster catastrophe, like Binance going the way of FTX, I don’t see Bitcoin falling below $20,000.”

Read Also: Top Analyst Warns of a Bull Trap, States Why He Thinks Current Bitcoin Price Rally Is Unsustainable

At the time of filing this report, BTC is trading at $23,491, with a 1.3% price uptrend in the last 24 hours.

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The post Legendary Trader Tone Vays Warns Bitcoin Investors, Says BTC Major Pullback is Imminent appeared first on Times Tabloid.

In a new strategic video, Vays told his teeming YouTube subscribers that Bitcoin (BTC) is currently facing heavy resistance as it surges closer to retesting the $25,000 price level.

Read Also: Bitcoin (BTC) Path to $100K and $1 Million Gets Clearer Following Recent Rally, PlanB Shows via a Chart

Although he believes that the flagship crypto will surpass the resistance level eventually, he thinks BTC rally will have to take a break for now.

Tone Vays noted:

“The weekly chart is exactly where we’re expecting it to be, slowing down and struggling to break $25,000. We are back under $24,000. I am expecting a bit of a pullback over the next few weeks. We could hit that $25,000 mark. I would be surprised if we break right through it and go higher, so I am looking for either consolidation or a bit of a pullback.”

According to the veteran trader, the time it took BTC to surpass $24,000 was too short.

“This thing went up way too far, way too fast,” Vays stated

It can be recalled that BTC was still trading at relatively $16,000 back in November 2022. This indicates that it took Bitcoin only about two months to be priced above $24,000, representing about 50% price surge.

Read Also: Top Analyst Warns of a Bull Trap, States Why He Thinks Current Bitcoin Price Rally Is Unsustainable

Vays further added that he’s waiting for the price to drop before he accumulates more coins:

“I hate chasing so I did not add to my bullish position but I do plan to do so on a pullback… Normally consolidations at the top lead to more upside eventually, but right now, I am a little bit skeptical because of the weekly resistance and how far the daily chart is above all its moving averages, so once again, I am anticipating a bit of a pullback before it goes higher.”

At the time of filing this report, Bitcoin (BTC) is trading at $23,006, with a relatively 1% price upsurge based on 24-hour estimation.

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The post Legendary Trader Tone Vays Issues Bitcoin Warning, Says BTC Surge to $24,000 Level Was “Way Too Fast” appeared first on Times Tabloid.

It can be recalled that Bitcoin (BTC) regained surging momentum a few days ago, flashing a false rally to $30,000, but later lost its footing, dropping to the $20,000 area before reclaiming $21,000 support.

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Bitcoin (BTC) Could Drop To $14,000 Region

In a new strategy session, Vays stated that Bitcoin is now at risk of dropping to $14,000, representing a relatively 33% price plummet from current prices. He attributed the incoming massive fall to BTC’s failure to sustain the recent bullish momentum.

Tone Vays noted:

“If we get back into this channel, it creates a complete disaster for the price of Bitcoin. So I don’t want to see us enter this channel.

“We can trade down with the 50-period moving average on the daily scale another day or two but that’s probably it. And after that, would need to rally back to the 128-day moving average, and at that point, it really needs to go back up. Otherwise, I’m going to put these low targets of $14,000 back on the table.”

Read Also: Popular Strategist Maps Out Two Most Likely Scenarios for Bitcoin (BTC) in Coming Weeks

After observing the weekly chart, the veteran trader became pessimistic about a consolidated rally. According to Vays, Bitcoin (BTC) has closed below the 200-week moving average, an indicator regarded by many traders as a likely reversal area for the flagship digital currency:

“The weekly chart is still pretty fragile. If we start trending back towards $20,000, all kinds of low-end targets are going to be back on the table. I still believe there’s a 60% chance the bottom is in. All of that goes away if we close below the $20,000 area.”

At the time of filing this report, Bitcoin (BTC) is trading at $21,471, with about a 3% price upsurge in the last 24 hours.

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The post Bitcoin Price: Top Trader Tone Vays Predicts Massive Plunge of BTC. Here’s His Target appeared first on Times Tabloid.

In a recent strategy session, Vays told his teeming YouTube subscribers that Bitcoin’s outlook shows that it’s not strong enough to hold its current price level as a support for recovery.

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Considering the outlook of the daily chart, the veteran trader said Bitcoin is likely on the verge of breaching the $19,000 support level, which could initiate another massive sell-off.

Tone Vays noted:

“The weekly chart is having a disastrous candle once again. It’s a red star candle. It’s going to close near the lows unless there’s a monster rally, but it’s a holiday weekend, so I doubt it… Right now, this is a bearish look… The four-day chart, also a bearish look. That’s why we’re in [100%] cash…

“The daily chart is getting ready for an MRI [momentum reversal indicator] buy. That’s good news. What’s the bad news? The bad news is we’re about to break very critical support and that can send the price of Bitcoin significantly lower, so we’re going to keep an eye on this development and hopefully early next week will be a nice turnaround with an MRI buy similar to what happened two weeks ago.”

Read Also: MicroStrategy Announces Purchase of Bitcoin (BTC) worth $10 Million amid Market Downturn

Tone Vays Sets His Price Target

The chart shared by Tone Vays during the strategy session shows that a break of Bitcoin’s current support level at $19,000 could send BTC down to $14,500.

At the time of filing this report, Bitcoin (BTC) is trading at $19,133. This shows that Vays’ price target represents a relatively 25% dip from the current price.

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The post Veteran Investor Tone Vays Says Bitcoin (BTC) Is On the Verge of another Breakdown. Here’s His Price Target appeared first on Times Tabloid.

In a new strategic session on YouTube, Vays told his teeming subscribers that the flagship crypto has surged to a new level of critical resistance which it must overcome to reach $100,000.

Read Also: Man Returns Home to Learn That his Mother Threw Away Damaged Laptop on which He Had Saved his $557 Million Worth of Bitcoin

The trader says that previously, he was looking at Bitcoin’s 200-week moving average chart in case of a “catastrophic break,” but now thinks BTC is in the clear.

Tone Vays noted:

“The part to really capture is going to be this monster breakout [from approximately $69,000 to $100,000]. We don’t really know what the price of Bitcoin is going to do, but we are taking our best statistical shot…

Some people are going to get very, very upset that Bitcoin isn’t breaking out of this triangle quick enough for them. And that would be the fuel that drives Bitcoin all the way to $100,000.”

“During the last couple of candles, I had removed the short-term moving average and replaced them with a long-term moving average in case there was a catastrophic break. The catastrophic break didn’t come.”

“If we get hammered back into $48,000, we can then go from $48,000 up to $62,000, then $62,000 to $55,000, and then break out.

Read Also: Bloomberg Intelligence: Bitcoin (BTC) Is In a Consolidating Bull Market Only ‘A Question of Time’ Until $100k

But if we go straight to $62,000 now, we can then spend our good time coming back to $52,000. It doesn’t actually change [Bitcoin’s triangle breakout].

Whether we get rejected now and go to $48,000 or get rejected later at $62,000 and go down to $52,000, that doesn’t matter. This does not alter the triangle breakout whatsoever.”

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