Topic: Notorious Bear Tone Vays: 90% chance $3,800 was the low (Read 400 times)
We can only pray he is right. When predicting Bitcoin bottom in next year old charts are useless. He uses carts to predict future price. We might have huge shit in Europe and North America. I basicyl see teh onyl hope in Summer and that we somehow found vaccine before Winter. If that will not be the case, ......
Honestly, I still think that we have no idea what bitcoin can do. I still suspect there will be a bull run very soon because of many great things about to happen to bitcoin such as bitcoin halving, plus miners not being able to keep this going for too long and would have to stop their machines which would only mean that transactions will be more costly and would create some slowness and people would be willing to pay more which would result with those machines turning back on and prices going back up.
But aside from that, even the world economy can't collapse too much, we had 2008 before and we know world will not let that happen again and there will be solutions. So, I assume 3800 is a right amount, we may however go back down to that once again, we can live around this $6k to $6.8k levels for a little while.
But aside from that, even the world economy can't collapse too much, we had 2008 before and we know world will not let that happen again and there will be solutions. So, I assume 3800 is a right amount, we may however go back down to that once again, we can live around this $6k to $6.8k levels for a little while.
He is right. The window only lasted for some minutes, the bounce was fast and agressive.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
Although it looks Tone lose in his debate against Heart I believe in his analysis he is good at figuring out things and it looks like he is correct on this one again, one thing I'm sure many are going to make a huge profit from this crash, but still depends on how we fought this Pandemic, the market is still open to anything. And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
He missed 1000$ to be precise in his prediction but at least more Buyers felt like positive to take more in 3k$ level but they are all fail.
with worldwide affect of this Virus no wonder that we will still looking for another fall of $3,800 or lower nobody can stop the market.
with worldwide affect of this Virus no wonder that we will still looking for another fall of $3,800 or lower nobody can stop the market.
This coronavirus spreads faster than the common flu and seems to be more deadly. There are other concerns, such as potential mutations bringing even more chaos.
and also Media gives all this to people ,the scare and panicking but just like what you said above in a month or so this Virus effect on Bitcoin price will end and the possible growth will Follow.
nice . nice to hear that some experts are also agreing with my predictions because my prediction says that this was the lowest bitcoin can get . i monitored the price from time to time but no new hard dips are experienced so far .
this was a good news to me aside from the recovery of some patients on our own country that lately been got by corona virus . maybe the recovery of the people have a relation to the recovery or stableness of the value of btc and other cryptos ? hmm , that was also one of my theory .
this was a good news to me aside from the recovery of some patients on our own country that lately been got by corona virus . maybe the recovery of the people have a relation to the recovery or stableness of the value of btc and other cryptos ? hmm , that was also one of my theory .
A new drop could be income, wow! so we are seeing another $3000 price here?
Possible considering the COVID-19 would take longer to eliminate, we need some cure if there's no cure the more people panic.
When people panic, we know what would happen, if the whales can create some panic by just feeding wrong information to the people, then how much more that we are witnessing a real life panic due to the pandemic.
I would say welcome $3000 in advance, not something we should be scared of though.
Possible considering the COVID-19 would take longer to eliminate, we need some cure if there's no cure the more people panic.
When people panic, we know what would happen, if the whales can create some panic by just feeding wrong information to the people, then how much more that we are witnessing a real life panic due to the pandemic.
I would say welcome $3000 in advance, not something we should be scared of though.
If the coronovarius is going to keep warranting serious responses such as limited social contact and going out only to buy food then most worldwide stock markets will keep on crashing (and what we've witnessed in the past week was just the beginning), and they will take Bitcoin with them. Maybe the halving will be a fuel for a little bit of optimism but I'd be prepared for the worst.
Corona is only delaying the growth of bitcoin by a month or two.
The things may more get worst as now in this week there are many countries which have started to report the cases more significant and fastly then the previous weeks. Also, in coming weeks this numbers may just multiply if proper care or vaccine not found quickly and we may see more and more panic selling happening considering the past as how market reacts to some news etc. But it is always a good time to buy on the dips and it would be resolved in coming time as not here to stay permanent.
It's complicated. Asymptomatic cases are now recognized as a major driver of the pandemic: https://www.cnn.com/2020/03/14/health/coronavirus-asymptomatic-spread/index.html
While it may spread more easily than most forms of the flu, this new data suggests the mortality rate is being very drastically overestimated. The mortality rate draws only on confirmed cases and deaths (high risk symptomatic cases) while asymptomatic or mild cases are going completely under the radar in extreme numbers.
This is hard to speculate about, but given the flurry of new information on asymptomatic cases and the general trajectory of mortality estimates (see the swine flu example earlier) it's not much more deadly than the seasonal flu. I would guess the current estimates will drop by an order of magnitude, closer to 0.3-0.4% (maybe even lower) rather than 3-4%.
While it may spread more easily than most forms of the flu, this new data suggests the mortality rate is being very drastically overestimated. The mortality rate draws only on confirmed cases and deaths (high risk symptomatic cases) while asymptomatic or mild cases are going completely under the radar in extreme numbers.
This is hard to speculate about, but given the flurry of new information on asymptomatic cases and the general trajectory of mortality estimates (see the swine flu example earlier) it's not much more deadly than the seasonal flu. I would guess the current estimates will drop by an order of magnitude, closer to 0.3-0.4% (maybe even lower) rather than 3-4%.
Quote
On average, seasonal flu strains kill about 0.1 percent of people who become infected. The 1918 flu had an unusually high fatality rate, around 2 percent.
Obituaries in a Bergamo newspaper are 3-5 times longer than usually:
https://www.washingtonpost.com/world/europe/coronavirus-obituaries-bergamo-italy/2020/03/16/6c342f02-66c7-11ea-b199-3a9799c54512_story.html
On the Diamond Princess about half were asymptomatic. 1% of diagnosed cases there ended in deaths. 1% death rate, under an assumption that there is enough equipment and qualified medical staff, is a significant number, especially if this coronavirus might not be eradicated by summer's time, because then the death rate can quintuple.
When even Tone Vays says that the bottom has been reached, you know bottom has been reached. I have previously said many times that we will not see under 5k ever again and we have seen it so I was wrong. However, as you can see even when we dropped under 5k it was for only few hours and we have recovered from that and moved up once again which shows that there was a lot of people like me who imagined under 5k was not a fair price for bitcoin and directly bought as much as they can which brought the price higher.
I don't know if we can call this fall really a fall because it wasn't really staying there for too long, it increased up really high very quickly. I still think under 5k is not a thing for bitcoin anymore, it may drop like this to go back up very quickly but I am sure it won't last long.
I don't know if we can call this fall really a fall because it wasn't really staying there for too long, it increased up really high very quickly. I still think under 5k is not a thing for bitcoin anymore, it may drop like this to go back up very quickly but I am sure it won't last long.
This coronavirus spreads faster than the common flu and seems to be more deadly. There are other concerns, such as potential mutations bringing even more chaos.
It's complicated. Asymptomatic cases are now recognized as a major driver of the pandemic: https://www.cnn.com/2020/03/14/health/coronavirus-asymptomatic-spread/index.html
While it may spread more easily than most forms of the flu, this new data suggests the mortality rate is being very drastically overestimated. The mortality rate draws only on confirmed cases and deaths (high risk symptomatic cases) while asymptomatic or mild cases are going completely under the radar in extreme numbers.
This is hard to speculate about, but given the flurry of new information on asymptomatic cases and the general trajectory of mortality estimates (see the swine flu example earlier) it's not much more deadly than the seasonal flu. I would guess the current estimates will drop by an order of magnitude, closer to 0.3-0.4% (maybe even lower) rather than 3-4%.
Quote
On average, seasonal flu strains kill about 0.1 percent of people who become infected. The 1918 flu had an unusually high fatality rate, around 2 percent.
https://www.nytimes.com/2020/02/29/health/coronavirus-flu.html
The difference in effects on young vs. old populations may complicate things however. There are still lots of unknowns, and I assume that's why people are so fearful and expecting the worst.
No the most deadly element to the virus is the duality to it. You can have it and its nothing at all to you, because you are young or whatever factor some shake it off personally yet propagate it to others. Some of the others will go terminal, cannot be helped and die in quite short order.
Thats quite terrifying in effect I guess. Hence isolation and the effort to delay the spread otherwise its like 18% of certain age groups will be gone. That % for countries overall varies but places like Japan half their country is old and in danger.
Thats quite terrifying in effect I guess. Hence isolation and the effort to delay the spread otherwise its like 18% of certain age groups will be gone. That % for countries overall varies but places like Japan half their country is old and in danger.
This coronavirus spreads faster than the common flu and seems to be more deadly. There are other concerns, such as potential mutations bringing even more chaos.
The panic in world markets seems overblown given the trajectory of past pandemics, and the fact that the corona virus is looking less and less deadly.
Less and less deadly, where, in China? Well look at the situation in Italy, almost 2000 people have died and 200-300 new people die every day, and this is just a start of something that (based on China case) can last at least 2-3 months.
You realize hundreds of thousands of people die from the common flu every year, right? None of the numbers are that alarming, especially as the winter winds down.
Data on asymptomatic cases is poor. In the initial stages of the swine flu outbreak, mortality rates like 7% were being thrown around too. In the end, it was closer to 0.2% once testing became robust and asymptomatic cases were accounted for. That's where the current pandemic is likely to end too.
Are cases going to continue to rise? Yes and it's really not the end of the world. People just need to get used to the idea instead of running around like chickens with their heads cut off.
Yeh, not a perma-bear, but has been bearish 95%+ of the time since 2018. Last year he bought $4K and sold at $5K expecting it to correct, then continued to be bearish until $14K. Arguably you could say he was "right" because price did re-test $4K levels eventually, as he was expecting last year, but in reality he missed out on an entire mini-bull run.
Also sold part of his hodl position prematurely around $6K levels, again last year, before price went twice as high
Fortunately my signature doesn't prevent me from criticizing him
Also sold part of his hodl position prematurely around $6K levels, again last year, before price went twice as high
Fortunately my signature doesn't prevent me from criticizing him
I knew he was one of the more vocal ones, and frequently too, didn't know he actually traded as well.
And you point out perfectly how everyone's predictions can be right at some point, if you cherry pick and selectively alter timeframes. I know all about those pro whale traders who claim to be in the know -- cause I very stupidly paid for expensive subscriptions in the past, so made double losses: lost out on subscription, AND made losing trades.
P.S. Got me curious about your signatures;)
The panic in world markets seems overblown given the trajectory of past pandemics, and the fact that the corona virus is looking less and less deadly.
Less and less deadly, where, in China? Well look at the situation in Italy, almost 2000 people have died and 200-300 new people die every day, and this is just a start of something that (based on China case) can last at least 2-3 months. Spain is next to repeat almost the same scenario, and I do not see how Germany and France can avoid the same.
The whole world is becoming one big quarantine, there is a total sale of stocks, gold, cryptocurrency everywhere. At this moment I do not see that BTC has any level below which it can not go - it is a free fall with a temporary delays.
I watch Trump last night when he annunciate Fed slashed interest rates, and in just few minutes BTC price jumped 10%, but even such an incentive measure cannot move the market in a positive direction, easy up and easy down -15% today.
~
Corona is only delaying the growth of bitcoin by a month or two.
What makes you so confident?Corona is only delaying the growth of bitcoin by a month or two.
it seems to me that all the drama started from US as soon as the stock market started tanking hard after the number of infected people started growing. and since the growth in US is surprisingly similar to growth in Italy and China we can expect this to continue in the same path and it will plateau in about a month or two (it took 2 months in China to plateau) which could be the start of reaching bottoms and end of panic/manipulation. by which time things go back to normal and the rise begins.
If the coronovarius is going to keep warranting serious responses such as limited social contact and going out only to buy food then most worldwide stock markets will keep on crashing (and what we've witnessed in the past week was just the beginning), and they will take Bitcoin with them. Maybe the halving will be a fuel for a little bit of optimism but I'd be prepared for the worst.
Corona is only delaying the growth of bitcoin by a month or two.
What makes you so confident?
The panic in world markets seems overblown given the trajectory of past pandemics, and the fact that the corona virus is looking less and less deadly.
What scares me is this: The Fed just slashed interest rates and announced QE. What did the futures markets do? They dumped on the news instead of relief rallying! That's true bear market behavior. Seems like the panic isn't over yet.
BTC has never lived through a 2008-style crash. If that's where we are heading, I think BTC is in for more than a month or two of bearishness. The last month of price action shows we can't afford to ignore the global economy.
Corona is only delaying the growth of bitcoin by a month or two.
If things start going back to normal after several weeks then it might not be that bad, but so far more and more countries are introducing stricter measures aimed at minimizing human contact. If the USA follows most of Europe in the next 1-2 weeks I'd expect further losses on the stock market and that will spillover into BTC.
If the coronovarius is going to keep warranting serious responses such as limited social contact and going out only to buy food then most worldwide stock markets will keep on crashing (and what we've witnessed in the past week was just the beginning), and they will take Bitcoin with them. Maybe the halving will be a fuel for a little bit of optimism but I'd be prepared for the worst.
Corona is only delaying the growth of bitcoin by a month or two.
If the coronovarius is going to keep warranting serious responses such as limited social contact for extended periods of time and going out only to buy food then most worldwide stock markets will keep on crashing (and what we've witnessed in the past week was just the beginning), and they will take Bitcoin with them. If almost every industry except maybe the food industry starts suffering from heavily reduced demand, Bitcoin, too, will suffer. Maybe the halving will be a fuel for a little bit of optimism but I'd be prepared for the worst.
He probably loaded his bags on the recent 50% drop, maybe he bought around $4,000 part.
Also some people told that that below $4,000 drops are fake and it's just because of derivatives trading exchange just like Bitmex.
Jeez, it's really awful when you saw how the drop goes and all you can do is to watch only since you don't have any extra money to buy more Bitcoins.
Also some people told that that below $4,000 drops are fake and it's just because of derivatives trading exchange just like Bitmex.
Jeez, it's really awful when you saw how the drop goes and all you can do is to watch only since you don't have any extra money to buy more Bitcoins.
I wish he is correct but the market right now is still not stable, the bears are here and bitcoin might fall below $5000 again, and with another huge dump, I am afraid next stop would be below $4000. Not a fan of following predictions by the experts, but I would be happy if he is correct, besides I would just accumulate again if that happens.
I also don't like to follow predictions and generaly they do more harm than good.
However, I think it's possible that this time Bitcoin price goes below 4000$. Maybe not in the next week, price will probably continue to fluctuate around 5000$ but after that anything it's possible.
Even if price goes below 4000$ I wouldn't consider that as a tragedy but as a new opportunity to buy more coins and the price will recover again.
I would say that there is a 90% chance that this is not even close to over, but that the Italian scenario can be repeated in all major countries in the EU, and also in the USA.
Of course it's not close to over. Anyone who has lived through past pandemics know that. But how do we turn that into price analysis?
If cases of infection keep rising, it's not going to keep linearly affecting the stock market. Everybody already expects it to get worse now so it should be ~ priced in. The crash occurred because nobody expected the pandemic, or they underestimated the effects. Now the tables have completely turned. Literally every person I know in the entire world is worried about the corona virus. Consequently the stock market has already crashed 30%.
What is not priced in? The possibility that the corona virus is like every other FUD pandemic (SARS, swine flu, avian flu) and is being blown out of proportion. Once that reality starts sinking in, I think markets will go back to climbing a wall of worry, and lots of retail investors will have sold the bottom.
Interesting choice having bottom bids at $2,750-$2,950. I think breaking the 2018 bottom would get much more bearish than that. If that happens, I'm open to the 2013 ATH range or even sub-$1K.
Not my first choice of bids either, I have a feeling he's expecting a 2015 style fakeout, where price breaks below the lows and traps the bears (at least on some exchanges). The likelihood of this happening again (in this exact manner) I find very unlikely, mainly because this particular bear market is clearly very different to 2015 (despite some comparisons). But his main argument is that he doesn't think price will break below $2,500, which I tend to agree with, so the risk/reward is definitely there long-term.
He's also said he's willing to sell the positions at a loss if prices break $1,500
i hate people like him who always come out with their bullshit during a price drop like this.
He deserves his day in the sun. He doesn't get to be right very often!It's true
At least he knows this though! He admits he's better off trading stocks instead of Bitcoin 
Wait, Tone is a bear? I always thought he was one in the same gang as all the others predicting all kinds of prices. Which, if I recall correctly, were pretty bullish as it comes?
Yeh, not a perma-bear, but has been bearish 95%+ of the time since 2018. Last year he bought $4K and sold at $5K expecting it to correct, then continued to be bearish until $14K. Arguably you could say he was "right" because price did re-test $4K levels eventually, as he was expecting last year, but in reality he missed out on an entire mini-bull run.
Also sold part of his hodl position prematurely around $6K levels, again last year, before price went twice as high
Fortunately my signature doesn't prevent me from criticizing him
A statement like this is just playing with numbers, nothing more than that. 90% is something that is pretty safe, but he still thinks it can go a lot lower, which I agree with.
Considering the situation from the outset, it's not hard to see that the first major impact came on the stock market (about $5 trillion wiped out), but in same time BTC remained almost intact. The second strike was much more serious, and followed the announcement by the WHO of declaring a world pandemic resulting in a sharp fall in oil prices (20%) and BitMex forced liquidation.
Today we have the result of all this, with the catastrophic situation in Italy and also Spain concerning COVID-19. In fact, the whole of Europe is becoming what China was a month and a half ago - but the EU is still not giving up on open border policy, which only worsens the situation.
I would say that there is a 90% chance that this is not even close to over, but that the Italian scenario can be repeated in all major countries in the EU, and also in the USA.
Considering the situation from the outset, it's not hard to see that the first major impact came on the stock market (about $5 trillion wiped out), but in same time BTC remained almost intact. The second strike was much more serious, and followed the announcement by the WHO of declaring a world pandemic resulting in a sharp fall in oil prices (20%) and BitMex forced liquidation.
Today we have the result of all this, with the catastrophic situation in Italy and also Spain concerning COVID-19. In fact, the whole of Europe is becoming what China was a month and a half ago - but the EU is still not giving up on open border policy, which only worsens the situation.
I would say that there is a 90% chance that this is not even close to over, but that the Italian scenario can be repeated in all major countries in the EU, and also in the USA.
Wait, Tone is a bear? I always thought he was one in the same gang as all the others predicting all kinds of prices. Which, if I recall correctly, were pretty bullish as it comes?
And yeah, like pooya says, why should he come out like this AFTER the fact? His genius should have shone through before this, when others were calling it much, much higher lows. Boo Toney =p
And yeah, like pooya says, why should he come out like this AFTER the fact? His genius should have shone through before this, when others were calling it much, much higher lows. Boo Toney =p
i hate people like him who always come out with their bullshit during a price drop like this.
"Even a broken clock is right twice a day."
He deserves his day in the sun. He doesn't get to be right very often!
the fact right now is that nobody can predict this market since the movements are not explainable. we might as wee see the COVID-19 situation get worsen in US (which is the likely scenario as stats are exactly like Italy) and the stock market crashes even harder, that can continue the panic in bitcoin
The Corona virus situation will worsen in the coming weeks but there's a decent chance it's already been priced in by the 30% stock market crash. The crash is all about fear, emotion, psychology and not so much about the actual logistics of a global slowdown. That's why they say markets are irrational. So the real question is "is the panic over yet?" If it's like 1987, then yes. If it's like 2008, then no. People seem to be expecting the worst now. As a contrarian, that tells me the worst is probably over already.
He is right. The window only lasted for some minutes, the bounce was fast and agressive.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
Right, I was scrambling to buy at cheap price, just waiting for some fiat, unfortunately, I wasn't able to ride as the price quickly bounce back from -46% to -31% and price going above $5k. That was really a great opportunity to get some cheap coins and hold and wait for the eventual bull-run, sadly I was late.
It it goes down, sub $5k again, then definitely I will buy small portions and see how it goes. Not that I wanted to see the price to go down again, but it will present another perfect opportunity, another chance to scoop BTC.
i hate people like him who always come out with their bullshit during a price drop like this. i still remember last year when price was heading towards $4k+ he was insisting that the "winter" is not over yet and price should fall down more even though there was every indication of the drops being long over and the price at that time being unnaturally below the actual value.
the fact right now is that nobody can predict this market since the movements are not explainable. we might as wee see the COVID-19 situation get worsen in US (which is the likely scenario as stats are exactly like Italy) and the stock market crashes even harder, that can continue the panic in bitcoin and causes more drop for no reason again or this all could end when people realize bitcoin has nothing to do with any of the things going on in the world and we can see the rise and the FOMO begin soon.
the fact right now is that nobody can predict this market since the movements are not explainable. we might as wee see the COVID-19 situation get worsen in US (which is the likely scenario as stats are exactly like Italy) and the stock market crashes even harder, that can continue the panic in bitcoin and causes more drop for no reason again or this all could end when people realize bitcoin has nothing to do with any of the things going on in the world and we can see the rise and the FOMO begin soon.
I wish he is correct but the market right now is still not stable, the bears are here and bitcoin might fall below $5000 again, and with another huge dump, I am afraid next stop would be below $4000. Not a fan of following predictions by the experts, but I would be happy if he is correct, besides I would just accumulate again if that happens.
the potential exists today, but all of these predictions might change when the corona problem is over. however, I also believe that prices could be under $ 5,000 right now. Well, maybe for those who really believe this, the best step to take is to hold assets in the form of stable coins or fiat. The dump was not caused by Covid-19, it was caused by Bitmex.
Personally I won't be agree with you on that case. Just forget about others previous dump, but recent dump I believe happened for huge cash out from bitcoin. Most of peoples need real cash now due to global crisis. Like this people become more panic means more dump. I know it's not going to recover very soon till global economy reverse to previous stage. I am waiting to buy back on $3K zone. 
I wish he is correct but the market right now is still not stable, the bears are here and bitcoin might fall below $5000 again, and with another huge dump, I am afraid next stop would be below $4000. Not a fan of following predictions by the experts, but I would be happy if he is correct, besides I would just accumulate again if that happens.
That could be true. We almost touch the $4,000 level price, so the chance to see another down will be possible. But we hope that the situations are not getting worst because if the price is down below $5,000, many traders will be panic, and I cannot imagine what will happen with the market. Maybe not only bitcoin will lose the price, but the altcoin will also get the same things. We have to wait for the next month, and we hope that the price will be back at a higher price.
He is right. The window only lasted for some minutes, the bounce was fast and agressive.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
It was very strange to know that bitcoin fell to 3800$. I could not even imagine this bitcoin price in 2020. However, i hope we will not touch this number again. Do you think as soon as the global threat of Covid-19 is over, bitcoin will jump as fast as it is dumped ?
The dump was not caused by Covid-19, it was caused by Bitmex.
Covid-19 can go away, but not Bitmex. Because some cucks believe in something they call "freedom", and they think that having some controls in place is "tyranny".
So, no, I dont think the price will jump quickly to where it was before. It will take a long time to see $10k again. I believe we will not see $10k this year, and bitcoin will never see a ATH again.
Being a long-term holder (since 2015), I'm going to change my strategies and sell a part of my stash when bitcoin arrives at $10k, probably next year.
This bear market will last for at least five years, and might be even permanent, since its being guided by derivatives. The price will bounce between $4k and $12k. There will be no more ATH, no adoption by merchants, no safe haven against the fiat system.
He is right. The window only lasted for some minutes, the bounce was fast and agressive.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
It was very strange to know that bitcoin fell to 3800$. I could not even imagine this bitcoin price in 2020. However, i hope we will not touch this number again. Do you think as soon as the global threat of Covid-19 is over, bitcoin will jump as fast as it is dumped ?
I wish he is correct but the market right now is still not stable, the bears are here and bitcoin might fall below $5000 again, and with another huge dump, I am afraid next stop would be below $4000. Not a fan of following predictions by the experts, but I would be happy if he is correct, besides I would just accumulate again if that happens.
Interesting choice having bottom bids at $2,750-$2,950. I think breaking the 2018 bottom would get much more bearish than that. If that happens, I'm open to the 2013 ATH range or even sub-$1K.
I strongly agree there. That's what V-bottoms look like, an extremely high volume wick.
However I would really like to see an upside break from the present consolidation. Closing well above the 200-week MA (weekly close is 27 hours away) and trapping bottom sellers below this mode in the $5K-$6K area will seal the deal and confirm this dump as a historic V-bottom.
Until that happens, we are on shaky footing.
He is right. The window only lasted for some minutes, the bounce was fast and agressive.
I strongly agree there. That's what V-bottoms look like, an extremely high volume wick.
However I would really like to see an upside break from the present consolidation. Closing well above the 200-week MA (weekly close is 27 hours away) and trapping bottom sellers below this mode in the $5K-$6K area will seal the deal and confirm this dump as a historic V-bottom.
Until that happens, we are on shaky footing.
I share on another thread:
According to Peter Brandt, BTC is still falling and could reach 1k
Read here: https://cointelegraph.com/news/bitcoin-under-1k-is-possible-warns-veteran-trader-peter-brandt
I prefer to trust in 3800 for sure, and everything is pointing to that, but we have to know that everything is possible, and it's not so hard to be at sub 2k levels again
According to Peter Brandt, BTC is still falling and could reach 1k
Read here: https://cointelegraph.com/news/bitcoin-under-1k-is-possible-warns-veteran-trader-peter-brandt
I prefer to trust in 3800 for sure, and everything is pointing to that, but we have to know that everything is possible, and it's not so hard to be at sub 2k levels again
He is right. The window only lasted for some minutes, the bounce was fast and agressive.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
And like I explained in another post, below $3k is the zone of the previous cycle recovery and bull run.
Quote from: Tone Vays
I'm 90% sure we're not going to be fall below $3,800.
Sharing Tone's perspective after the recent drop that he not only predicted, but was heavily criticized and mocked for.
Source: https://twitter.com/ToneVays/status/1238359552422273024
Quote from: CoinTelegraph
Quote from: Tone Vays
All Signs Point to this being the final capitulation of the 2 year Bear Market.
Accordingly, Vays set the chances of a fresh dive below $5,000 at 50%, given press time levels of $5,700:
Quote from: Tone Vays
Do I still think that we are going to fall below $5,000 one more time? The answer is: I actually do.
Conversely, the chances that BTC/USD had seen its floor this week were much higher — around 90%. Vays would only “panic” if markets hit $1,000, he added.
On the future, the message was simple:
Quote from: Tone Vays
The final capitulation has happened, the bear market is over, but the road back up will be harder than people realize.
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