Veteran Trader Tone Vays Sounds the Alarm on Bitcoin, Anticipates Larger Correction

So, here’s the scoop from Tone Vays, the seasoned trader – buckle up, folks. He’s not painting a rosy picture for Bitcoin (BTC), suggesting a looming storm of a more substantial market correction.

In his latest video update, the man with 123,000 YouTube subscribers spills the beans. If Bitcoin fails to reclaim a crucial level, he sees it taking a nosedive into the mid-$30,000 territory. Tone Vays isn’t throwing confetti around, though; he’s cautious, expressing his desire for an upward trajectory. Nobody wants to deal with another brutal bear market, right?

But, here’s the kicker – he’s keeping his cash close and staying on the sidelines until Bitcoin flexes its muscles above those moving averages. Tone Vays needs that breakthrough moment – a $44,000 daily close or a move to $36,000 would do the trick for him to go all in on Bitcoin.

In his own words, “There could be something in between.” It’s a waiting game to see the speed of the descent. Perhaps there’s a buying opportunity at $39,000. Realistically, though, he’s eyeing either a move above the $44,000 moving average or a drop to $36,000, where the stars align with the MRI support line, the 128-day moving average, and the top of the channel on the daily chart.

And what about that $40,000 mark? According to Tone Vays, if Bitcoin dips below that, it’s not comparable to the historical dips before pre-halving events. The next halving event is expected in April, and he’s not seeing the pre-halving dump happening four months ahead.

But wait, he’s not waving the doomsday flag just yet. Tone Vays doesn’t envision Bitcoin revisiting the dreaded $20,000 range. $30,000 is his rock-bottom prediction, and that’s only if something catastrophic hits the scene.

As for the current Bitcoin price update? It’s dancing at $43,222, showing a nearly 2% gain in the last 24 hours. So, keep those eyes peeled, crypto enthusiasts – it seems like we’re in for a wild ride in the world of Bitcoin, according to Tone Vays.