It’s the Bottom Price! – Cryptokoin.com

Leading crypto Bitcoin (BTC) is struggling to recover from the havoc wrought by the collapse of FTX. BTC, which has partially recovered today, is trading below the $ 17 thousand support. Will this break the psychological support or will it sink to the bottom again? In this environment of uncertainty, the analyst who predicted the 2018 Bitcoin collapse explains the final BTC bottom. The analyst also says that most traders will be caught off-guard.

“This level is the bottom for Bitcoin as no one believes it!”

Tone Vays accurately predicted the collapse of Bitcoin (BTC) in 2018. The analyst now explains what he predicts to be the absolute bottom of the leading crypto. According to veteran analyst Tone Vays, Bitcoin ‘likely’ formed a bear market base when it hit a 2022 low of $15,546. In this context, the analyst makes the following assessment:

I still think we have a bottoming process going through right now. This will likely be the lowest level ($15,546). The reason it’s most likely to be the final bottom is because no one thinks it’s the ultimate bottom. 99% of people believe we will go down. So I don’t think we’re going to go any lower. Because everybody’s so sure we’re going to $11,000 or something.

“CMF shows bullish trend for BTC”

Tone Vays also looks at overall market sentiment. However, he also says that one of his favorite indicators signals a potential reversal for Bitcoin. Accordingly, the analyst notes that Chaikin Money Flow (CMF) is trending bullish. The metric in question is an indicator that tracks whether market participants have accumulated an asset. The analyst makes the following statement regarding this indicator:

Here’s one of the best graphics I’ve seen in a while. We crashed on a weekly scale, okay. However, look at the incredible CMF decomposition. So this tells me that under the hood, things are actually on the rise. I really like to see the CMF decomposition. One of my favorite indicators for identifying potential returns. I love the fact that the CMF is almost green even though the price is still a complete and utter disaster.

bitcoin
Source: Ton Vays / YouTube

At press time, Bitcoin was trading at $16,855, up 2.46% on a daily basis. cryptocoin.comAs you follow, Bitcoin rose to 21 thousand dollars after the US CPI data. However, later the cryptocurrency exchange FTX crashed with a lot of question marks. This dragged the entire crypto market into a deep crisis. Naturally, BTC also got its share from this and dived to the level of 15 thousand dollars. Now she is struggling to beat this bad luck. Let’s see if the bulls will prevail, as the analyst predicted, or will the bears take over again.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram and YouTube join our channel!

Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.

Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.

Show Disclaimer


source site-3