Bitcoin (BTC) has fallen below $ 35 thousand and is having a very difficult time. Senior trader and analyst Tone Vays says he is waiting for the best opportunity to buy Bitcoin amid the leading crypto’s downward price action.
“Bitcoin looks absolutely terrible”
Tone Vays, whose views we have included in the news of Kriptokoin.com, in a new video he published, told 121,000 YouTube subscribers that if the bulls do not take the plate soon, Bitcoin will continue its downward trajectory. and psychological support for $30,000. The analyst says:
We need to return to this triangle sometime this month. Otherwise, this will come. This is Bitcoin’s way. I hope it happens next month and maybe ends around $23,000.
Source: Tone Vays / YouTube The analyst looks at the weekly chart and says that BTC looks ‘absolutely terrible’ as Bitcoin is showing multiple bearish signals. Tone Vays explains:
We are in the process of establishing a brand new weekly close low that is problematic. Potentially, this would be the second-lowest closing level in more than a year, in about a year, and that doesn’t bode well. This is not a bullish sign.
“When something falls, I don’t jump to catch a falling knife,” says some sort of reason to do so, and emotions are not. “You either need technical analysis, or you need some kind of fundamental change, or you need enough time,” the analyst says.
“I will be a lowly BTC buyer”
With a bleak outlook for the leading crypto, the analyst thinks it will likely take months for Bitcoin to form a bear market base. “I will be a low-end Bitcoin buyer at the end of the year,” says the analyst, for the buying time:
If BTC just continues to struggle and sits down, down and down and down and here at $25,000 in November, it will change over time. I’ll buy it now that the bear market is over.
According to the analyst, time is important, not price. According to the analyst, when enough time has passed, you do not need to go that low, but with less time, you should go lower to finish the bear market. Tone Vays comments on price and timing:
We either need a drop close to the $20,000 range, or $20,000, or we’re going to let him down for another six months and then either way, the bear market is over. .
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