Tone Vays, a popular crypto Youtuber, has told his audience that BTC is preparing for a major price retracement. However, he claimed that the primary crypto asset might decline in price shortly before its massive bull run.
In the video, Tone claimed that BTC would likely go through another adverse price action briefly before it rises again. He continued that the leading digital asset may decline by 13% from its current trading price of about $17.16K (at the time of publication) before attempting a price breakout.
Vays further narrated to his 123 000 YouTube followers that the coin might touch down to the $15K price range in the coming months before experiencing any significant price increase. Buttressing his prediction, he stated that BTC had stayed longer than expected in the low range of $16K after its massive decline in November.
In addition, the veteran cryptocurrency trader said it is abnormal for any coin to stay that long at the bottom level. Vays added that a typical crypto asset only remains at its dip price for a short term, which allows investors to buy the dip before recovering again.
However, BTC, on the contrary, stayed for several weeks at its dip price after declining in November. Furthermore, he said that the atypical behavior of BTC suggests that it is yet to complete its bearish run.
Hence, Vays predicts that BTC would likely exercise a brief and short-term bearish run before embarking on a bullish recovery.
Buy The Dip, Or Wait For The Bullish Run
According to the veteran trader, there would be a massive buy-out of BTC should it tank a little bit more to create a lower entry price for traders. However, he continued that BTC’s crash to the $15K price range would be the best opportunity for investors to buy the dip.
The current atypical BTC price movement has afforded investors the luxury of buying the dip or waiting a little bit more for BTC to breakout above $21K before buying. Meanwhile, the price chart history of BTC shows that it usually takes up to months and sometimes years before BTC can recover from previous crashes.
Also, BTC has a chance of tanking more, according to Vays’ prediction, if the current crypto winter continues.
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