Tag: TONE VAYS

Long-Time Bitcoin Trader Tone Vays Issues Warning, Says BTC Hinting Historically ‘Catastrophic’ Pattern

by Dailyhodl

Veteran crypto trader Tone Vays is warning that BTC’s moving averages are flashing signs of potential catastrophe in the coming months.

In a new YouTube update, Vays tells his 120,000 subscribers that Bitcoin’s seven-month moving average is in danger of dipping below the 20-month moving average.

Historically speaking, such crossovers have led to major losses for the leading crypto by market cap, according to Vays.

“We want to avoid this moving average crossover. The only way to avoid this moving average cross-over is for the prices to rise back above the short-term moving average, which is approximately $50,000 either in the current month or next month. That’s the only way we can avoid the upcoming moving average cross-over, which should be avoided.”

The trader says the last time the seven-month moving average dipped beneath the 20-month moving average, Bitcoin lost half of its value.

“The last time these two crossed over, the price of Bitcoin fell over 50%. You don’t want that. And we went all the way down to the next moving average. We can have a repeat of that if the price of Bitcoin is still hovering around $40,000 going into May as these moving averages crossover.”

Looking ahead, Vays warns fellow traders that a 50% price cut to Bitcoin may be in the realm of possibilities, though it will likely be followed by a bull market.

“I would not be surprised at all if we end up with a repeat of November 2018 when the big catastrophic fall down from $40,000 to $20,000, and then start our new bull market.”

Bitcoin is trading at $38,544.33 at time of writing, up 4% on the day.

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Trading Veteran Tone Vays Says Bitcoin Bull Market Is Not Over, Doubles Down on $100,000 BTC Call

by Dailyhodl

Seasoned trader Tone Vays says he remains bullish on Bitcoin (BTC) despite BTC’s sharp decline from its all-time high of $69,000.

In a new strategy session, Vays explains to his 119,000 YouTube subscribers that he’s still biased on Bitcoin in the bullish direction and that BTC has not yet entered bear territory.

“I believe in higher highs and higher lows, especially in a consolidating environment. So for me to admit that there’s a bear market, I need to break this low [$28,805].”

Vays also names several key reasons why he believes Bitcoin is still in a bullish environment from a fundamental perspective.

“When we go up exponentially, it’s easier to call the start of a bear market. When you don’t go up exponentially, and this looks exponentially in absolute terms [BTC rally from $3,700 to $64,000], but not in percentage terms. And also not based on what was happening in the general environment.

MicroStrategy is getting in. Tesla’s getting in. El Salvador accepting it as a reserve currency. These were very bullish macro signs.”

The veteran trader also says that Bitcoin’s market structure in the higher timeframe remains bullish and that he expects BTC to eventually take out its all-time high.

“It did not give me the impression that this was the start of a bear market, and it wasn’t because we made a new high. And it’s so rare.

I will always make the bet that the breach of the prior swing high will take us all the way back up here [$100,000]. I will always make this bet.” 

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Bitcoin (BTC) Running Out of Time To Save Bull Market: Veteran Trader Tone Vays

by Dailyhodl

Veteran trader Tone Vays says Bitcoin (BTC) needs to finish the week strong or it risks experiencing another liquidation candle.

In a new strategy session, the seasoned crypto analyst tells his 119,000 subscribers that he remains optimistic about Bitcoin’s chances of recapturing the $49,000 level, but the clock is ticking for the king crypto to make a move to the upside.

“I am still optimistic for the current month that we’re going to rally back into the triangle and possibly above the short-term moving average, which means we have to close the month above or very close to $49,000.

I believe that’s possible, but the month only has 10 days left. So Bitcoin better get a move on in the next 48 hours, or that is not likely to happen.”

Vays digs into the weekly chart and highlights the miner’s rolling inventory (MRI). This metric gauges sentiment among Bitcoin miners where a percentage above 100 means miners are net-selling their newly minted BTC, whereas a sub-100% number means miners are hoarding their fresh BTC.

“The weekly chart is technically still looking bullish off of the MRI, and only bullish off of the MRI. By all the metrics, it’s actually pretty bearish.

We need this week to be positive, otherwise, Bitcoin is in trouble.”

The analyst concludes by looking at Bitcoin’s previous two big selloffs which began on December 27th and then again on January 5th. He’s concerned that even if Bitcoin climbs back to $44,000, it might soon capitulate back below the $40,000 support.

“Bitcoin is in trouble, and if it stays here a couple more days [approximately $41,722], then I believe a repeat of what happened last month and early this month is very, very possible.

[It could reach] $44,000 in the next week, then it’s very likely to take another leg down to about $38,000 or lower.”

Bitcoin is currently up 1.53% on the day and trading for $42,272.

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Veteran Trader Tone Vays Updates Outlook on Bitcoin After Top Crypto Breaks Above $42,000

by Dailyhodl

Veteran trader Tone Vays says he’s remaining bullish on Bitcoin (BTC) despite the top crypto’s momentum oscillators showing weakness.

In a new strategy session, the seasoned crypto analyst tells his 119,000 subscribers that Bitcoin’s moving average convergence/divergence (MACD), Relative Strength Index (RSI), and Chaikin Money Flow (CMF) indicators all look “horrible.”

“The MACD is very bearish. RSI…RSI is a little nasty right now, I don’t even want to talk about it, and the CMF is in bad shape. The oscillators look horrible.”

A crypto asset’s MACD is a momentum indicator formed by subtracting a longer-term moving average away from a shorter-term one. An asset’s RSI shows whether an asset is overbought or oversold while its CMF is a metric used to measure the buying and selling pressure of a security over a set period.

Despite the bearish indicators, Vays says that he remains bullish on the top digital asset by market cap as it has yet to dip below levels that would concern him.

“We’re still bullish. My line of concern has not yet been touched.

I think today is going to be a good day [for BTC], I think this [most recent downward] candle is just an anomaly to shake people out.

Nothing is ever simple in the world of trading so I remain very very bullish.”

However, Vays notes that his bullishness is toward the mid-to-larger time frames rather than immediate ones.

“There’s not much I can say right now other than I remain bullish on the larger time frames. The daily time frame, the four-day time frame, the weekly time frame, I remain bullish.

Am I bullish on this one-hour time frame? Not really, I’m more neutral.”

BTC is exchanging hands at $43,190 at time of writing, a 3.3% increase from its 24 hour low of $41,794.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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As Bitcoin Dips, Seasoned Trader Tone Vays Says BTC Just Flashed Mega Bullish Signal

by Dailyhodl

Veteran trader Tone Vays says one Bitcoin (BTC) indicator that historically leads to crypto rallies just started flashing bullish signals.

In a recent YouTube update, Vays tells his 118,000 subscribers that the momentum reversal indicator (MRI), a signal that predicts the end of a trend based on price momentum, just showed up.

“I don’t have much bad news for you, the bad news took place in the prior two months. This is great news. Look, you have a weekly MRI buy. This is something we have not had in a long time, and they don’t come around that often.”

The last times Vays saw this signal flash was in March 2021 and November 2020.

Based on the MRI signaling rallies on the horizon, Vays says he’s still bullish on BTC.

“I personally believe we are going to rally back into the triangle by the time this month is over. Can we go down to $35K before that? It’s possible. But I’m literally bullish right now. Can it dip further? Yeah, of course, it can dip further. It could dip down to $20,000. 

But it’s all about probability.”

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Source: ToneVays/YouTube

When it comes to probabilities, Vays says Bitcoin will probably rally in the short-term, at the very least.

“We have to go all the way back to September 2014 to find an MRI buy candle that did not immediately rally the market in the short-term or the intermediate-term.

I’m going to take these odds.”

Bitcoin is currently trading at $41,024.72, down 0.84% over the last 24 hours.

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Veteran Trader Tone Vays Says It’s ‘Impossible’ To Be Bearish on Bitcoin – Here’s Why

by Dailyhodl

Seasoned crypto analyst Tone Vays says that Bitcoin (BTC) flipping bearish in its current scenario would be paradoxical.

In a new strategy session, the veteran trader tells his 118,000 subscribers that the events that would have to take place for him to turn bearish on the king crypto would actually end up making him bullish.

“Someone was asking me where I would turn bearish on [the] mid and long term. That’s a really good question… I would literally need [to see] Bitcoin below $35,000 to turn mid-to-long term bearish.

But there’s a huge contradiction there because if BTC does fall that low, it’s at a pretty significant low, and going bearish at this point makes absolutely no sense whatsoever.

This is why there’s almost nothing that can happen right now in this current structure that would make me intermediate to long-term bearish…it’s almost impossible to turn bearish.”

According to Vays, the only scenarios that could flip BTC bearish at this point would be if it has a massive exponential run-up as it did at the end of 2017, which would be generally followed by a correction, or if it formed a descending triangle pattern.

“It’s very unlikely I turn bearish, we would need a much higher exponential run-up first for me to turn bearish, or a descending triangle. There’s nothing wrong with being bearish when moving averages are about to cross, [but they] don’t cross very often.”

Bitcoin is exchanging hands at $47,895 at time of writing, a 3% increase from its seven-day low of $46,471.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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This Will Be the Fuel That Pushes Bitcoin to $100,000, According Veteran Trader Tone Vays

by Dailyhodl

Veteran trader Tone Vays says he’s identified a catalyst that will finally push the largest crypto asset by market cap to the six-figure price range.

In a new YouTube session, Vays tells his 118,000 subscribers that BTC has risen to a new level of “critical resistance” that it must break through to reach $100,000.

“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.”

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Source: Tone Vays/YouTube

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.

“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.”

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Source: Tone Vays/YouTube

When asked what a further correction down to $48,000 would mean for Bitcoin’s future, Vays says,

“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.

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.”

Bitcoin is currently trading $51,824, up 3% on the day.

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Bitcoin Facing Ultimate Test As New Year Arrives, Says Veteran Trader Tone Vays – Here’s His New Outlook

by Dailyhodl

Veteran cryptocurrency trader Tone Vays says that he’s identified the next crucial testing level for top crypto Bitcoin (BTC).

In a new strategy session, Vays tells his 118,000 YouTube subscribers that he expects BTC to face its “ultimate” test sometime in late December or early January.

“If the price of Bitcoin is sitting in [the $50,000 range] and it comes back down to $48,000 over the course of the next four or five days, that could be a good enough consolidation to then bounce right into [its] death cross…

I do expect the moving averages to cross sometime in very late December to early January, and that’s going to be the ultimate test for Bitcoin’s resistance.”

Though no official timeframes are set, an asset’s death cross forms when its short-term moving average dips below its long-term moving average, which is traditionally a bear signal. Vays notes that BTC’s death cross could happen somewhere in the $52,000 to $54,000 range.

Looking at BTC’s four-hour chart, Vays says that Bitcoin is forming a double top pattern, which to him is a sign of bullish momentum.

“The four-hour chart appears to have broken the MRI (momentum reversal indicator) resistance line, but it perfectly hit an MRI top on a four-hour [chart] just like it hit it [hours ago]. Look what happened after – the top has not yet been broken on an intra-candle level…

You know my rule on double tops: double tops are meant to be broken to the upside. The fact that we made it all the way up and matched [the second] top is a bullish sign.”

The MRI is a time-based chart indicator that attempts to anticipate a reversal of an asset’s price movements.

Bitcoin is exchanging hands at $50,704 at time of writing, a 10% increase from its seven-day low of $45,682.



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Bitcoin Looking Scary, According to Veteran Trader Tone Vays – Here’s His Worst-Case Scenario for BTC

by Dailyhodl

Veteran Bitcoin trader Tone Vays says he’s not liking BTC’s technicals one bit as the king crypto continues struggling to find support below the $50,000 mark.

In a new strategy session, Vays points out that Bitcoin is threatening to take out the 50-week moving average (MA) and close below it.

The trader recalls that the last time BTC collapsed below the 50-week MA, it went all the way down to touch the 200-week MA, which is currently roughly at $20,000.

“If we break this moving average I would need to bring the 200-week moving average in… And, well, that’s not good, is it? That takes us down to the $20,000 mark. Now in a way that’s bad but in a way that’s actually really good. In a way, if we do make it here, oh boy is there going to be a massacre. Mostly in the sh*tcoin space, there will be a massacre.”

Vays looks at the pandemic-induced market crash of March 2020 and says that the 200-week MA acted as massive support that rebounded the price of BTC quickly up to new highs.

“There will be huge panics, but also, look at how the 200-week perfectly bounced the price of Bitcoin to eventual new all-time highs. So resetting this market to the 200-week moving average would be – I’m not going to say good – but it’s going to be bad either.” 

While the trader is still prepared for the worst, he still thinks the bottom for Bitcoin is much closer than $20,000.

“I don’t believe this is a likely scenario, I still believe we are going to bounce somewhere [Near $40,000] without breaking the prior swing low.”

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Is the Low In? Veteran Crypto Trader Tone Vays Plots Bitcoin Recovery Following Deep Market Correction

by Dailyhodl

Veteran crypto trader Tone Vays is looking at the state of Bitcoin following the deep correction that took BTC down below $42,000 in a matter of minutes last weekend.

In a new strategy session, Vays says that if the stock markets can pull off a rally in the early stages of this week, Bitcoin may be able to muster up the strength to return above the crucial $53,500 level.

Vays predicts Bitcoin having a V-shaped reversal back into a bullish trend. He notes how quickly BTC moved from $47,000 to $41,500, indicating strong buying demand in the low $40,000 range.

“I do think this is going to be like a V-shaped reversal. You’re not going to get another chance to buy this dip. If you happened to go to the bathroom during this crash from $43,000 to $41,000, you kind of missed it… On an hourly scale, you only got less than an hour between $47,000 and $41,500. You did get another chance to buy at $47,000, but you didn’t get a chance to buy sub-$45,000.”

The closely followed trader says that after the recent market meltdown, Bitcoin actually has a higher chance of hitting new all-time highs this year than it did before the crash. According to him, Bitcoin’s daily candle on December 4th may have created a spring-like catalyst for BTC to begin a new uptrend in the coming days.

“Because of the way this candle manifested itself, there is now a higher probability that of a new all-time high this year, than there was yesterday when the candle was higher because on yesterday’s candle, it still had the high chances of being a slow drag down decline followed by consolidation. But the V-Shaped move actually creates additional upwards pressure of FOMO [fear of missing out].

At time of writing, Bitcoin is trading at $49,260, about 28% down from its all-time high above $69,000.

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Bitcoin (BTC) $ 38,819.40 1.75%
Ethereum (ETH) $ 2,096.78 0.18%
Litecoin (LTC) $ 71.96 2.53%
Bitcoin Cash (BCH) $ 226.37 1.51%