These Targets Will Confirm Bitcoin Bull Market With 95% – 98% Certainty, Says Veteran Trader Tone Vays
- November 26, 2022
- No Comment
A seasoned crypto trader says he can nearly guarantee the beginning of a new bull market if Bitcoin (BTC) hits certain price targets.
In a new strategy session, Tone Vays describes to his 123,000 YouTube subscribers a scenario showing how Bitcoin bulls could effectively end the year-long bear market.
According to Vays, BTC bulls must push the price of the king crypto to its swing high in November to have a very good chance of igniting a fresh bull market.
“I want to see a move to just under $23,000. If we get rejected, we need to hold $19,000 on the rejection, and then we need to come back and start to challenge $23,000. That tells me with about 95% to 98% certainty the bull market has begun. Until we get that situation, I don’t have a 95% certainty that the bull market has begun.”
The crypto trader who accurately called BTC’s collapse in 2018 is also open to the idea that Bitcoin could witness another sell-off event. However, he highlights that BTC will likely immediately start a new bull rally after traders capitulate.
“Another scenario is if we crash down to $11,000 or lower. I believe the bull market will begin immediately after that because I just don’t believe Bitcoin can go any lower. So those are my two ultimate scenarios.”
In either scenario, Vays expects Bitcoin to hit the $23,000 price level later this year or in early 2023.
At time of writing, Bitcoin is trading at $16,651, a fractional increase on the day.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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.
Featured Image: Shutterstock/Philipp Tur