In the newest video published by November 25, the veteran trader Tone Vays explains to his 123,000+ YouTube subscribers a scenario showing how a Bitcoin bull run can effectively end a year-long bear market.
“I want to see Bitcoin price below $23k. If this price gets rejected we need to keep it at $19k then we need it to start challenging the resistance at $23k again. 95-98% that the bull market has begun until this situation occurs. I’m still not of 95% confident that the bull market has begun.”
Vays is also clear about the idea that Bitcoin could still undervalue, he emphasized that BTC tends to restart immediately after the selloff ends.
“Another scenario is if the cryptocurrency market crashes we could meet at $11,000 or below, I believe the bull market will begin immediately after that. Because I don’t believe Bitcoin can go any lower, those are the last two scenarios for me.”
In any case, Vays expects Bitcoin to reach $23,000 by the end of this year or early 2023.
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