crypto strategy

Trader Who Called Bitcoin’s 2018 Crash Reveals BTC’s Ultimate Bottom, Predicts Most Traders Will Be Caught Unprepared Cryptocurrency

The crypto trader who correctly called Bitcoin’s (BTC) collapse in 2018 unveils what he believes to be the absolute bottom of the crypto king.

In a new strategy session, veteran trader Tone Vays tells his 123,000 YouTube subscribers that he thinks Bitcoin “most likely” set a bear market low when it printed a new 2022 low of $15,546. .

“I still think we have a process bottom that we’re going through right now, and it’s very likely to be the ultimate bottom ($15,546). The reason why it’s very likely to be the ultimate low is nobody thinks that’s the ultimate low like 99% of people are convinced that we’re going to go down and that’s why I think we’re not going to go down because everyone’s so sure we’re going to go down to $11,000 or something like that.

Along with gauging general market sentiment, Vays says one of his favorite indicators signals a potential reversal for Bitcoin.

The trader claims that the Chaikin Money Flow (CMF), an indicator that tracks whether market participants are accumulating an asset, is showing a bullish divergence.

“Here’s one of the best rankings I’ve seen in a while. Even though we crashed on a weekly scale, look at the incredible CMF divergence. So that tells me that under the hood things are actually I really like seeing the CMF Divergence, it’s one of my favorite indicators to identify potential reversals…

I like that the CMF is almost green even though the price is still in complete and utter disaster.

Source: Tone Vays/YouTube

At the time of writing, Bitcoin is changing hands for $16,729, up 2.38% on the day.


Don’t miss a beat – Subscribe to receive crypto email alerts straight to your inbox

Check price action

follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Blend

Check the latest news headlines


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

Featured Image: Shutterstock/tanatpon13p/Chuenmanuse

#Trader #Called #Bitcoins #Crash #Reveals #BTCs #Ultimate #Bottom #Predicts #Traders #Caught #Unprepared #Cryptocurrency #crypto strategy

Related Articles

Back to top button