An experienced crypto trader shared his current assessments of Bitcoin (BTC) price and warned his followers. Vays predicts that a real pullback could be on the horizon for the leading cryptocurrency.
Veteran crypto strategist Tone Vays told 123,000 YouTube subscribers that the largest crypto asset by market cap has failed to conquer a critical level of resistance that could cause a short-term price drop.
According to Vays, Bitcoin narrowly missed a pullback early in the cycle, but it didn’t completely invalidate the bearish scenario, it just delayed it. The analyst expects a “significant” pullback in the coming weeks.
“A very critical level of resistance. [25.500 dolar] We were rejected by I warned about this level. I said this is a very difficult time to navigate because [13 Şubat’ta] If we had entered the death cross it would have been clear that there was time for a really significant pullback, but we turned earlier and the pullback wasn’t very deep, so we are now in a situation where the actual pullback could come in the next few weeks.”
Koinfinans.com As we reported, Vays added that he expects BTC to drop to the $20,000 level and plans to add more crypto assets to his portfolio if it falls below that. However, he thinks the only scenario that could bring BTC below this price is another FTX-like disaster.
“Don’t be surprised if we drop to $20,000. Still, I don’t think we’ll go far below $20,000. [Bu fiyat] my ultimate bottom buy price… I don’t think Bitcoin will go below $20,000 without some monstrous catastrophe like Binance going the way of FTX.”
Bitcoin is trading at $23,399 at the time of this writing, up 1% over the past 24 hours.
You can follow the current price action here.