Bitcoin Price ‘Worst-Case Scenario’ Is Now $7,000 — Trader Tone Vays

$9,000 would be the ideal “buy the dip” opportunity, says Vays, with $7,000 soon to form Bitcoin’s untested 200-week moving average.

Bitcoin (BTC) hitting $7,000 is now the “worst-case scenario,” veteran trader Tone Vays said on Sep. 23. In the latest episode of his Market Pulse YouTube series, Vays said he was looking for a BTC price bottom of $9,000.

Vays: $9,000 BTC price is “very good buy the dip” opportunity

BTC/USD has maintained $10,000 support this week but has so far failed to reclaim higher levels after its fall from $11,000 several days ago.

If we break down, I think $9,000 is a very good ‘buy the dip,’’  Vays said. “What is my worst case scenario low point if we break down? My worst case scenario is $7,000.”

Vays added that $9,000 for him was the “most realistic” outcome of a bearish trend taking hold of Bitcoin markets.

“The longer Bitcoin stays above $10,000, the more bullish Bitcoin is,”  he continued. “Consistency on the way up is bullish; consistency on the way down is bearish.”

Bitcoin has focused on $10,000 in a way which is bullish compared to its bottom of $3,600 in March, but less convincing versus recent highs of $12,500. Reclaim $12,000, however, and for Vays, “the sky’s the limit.

This week, quant analyst PlanB highlighted the cryptocurrency’s 200-week moving average, which has never been broken as support, as proof that a realistic price floor is now $6,700. Next month, that level will increase to sit in line with Vays’ $7,000 prediction.


Bitcoin (BTC) $ 12,208.78 3.20%
Ethereum (ETH) $ 378.97 0.34%
Tether (USDT) $ 0.999789 0.15%
XRP (XRP) $ 0.247811 0.35%
Bitcoin Cash (BCH) $ 249.65 0.57%
Binance Coin (BNB) $ 29.45 1.76%
Chainlink (LINK) $ 10.38 4.13%
Polkadot (DOT) $ 4.00 1.96%
Cardano (ADA) $ 0.104495 3.23%
Litecoin (LTC) $ 48.61 0.68%
S&P 500  ^GSPC 
$3,443.12  $16.20  (0.47%)
Dow Jones Industrial Average  ^DJI 
$28,308.79  $113.37  (0.40%)
NASDAQ Composite  ^IXIC 
$11,516.49  $37.61  (0.33%)
Russell 2000  ^RUT 
$1,617.71  $4.08  (0.25%)
Crude Oil Dec 20  F*CL.NYM 
$41.25  $0.4500  (-1.08%)
$0.0000  $0.0000  (0.00%)