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Veteran Trader Tone Vays Reverses Course, Goes Long on Bitcoin (BTC) at $100,000
In a stunning turn of events, veteran trader Tone Vays has reversed his previous stance and is now going long on Bitcoin (BTC) at the psychologically important $100,000 mark.
This decision comes after Bitcoin’s recent price action, which saw it form a textbook “Bart Simpson Pattern” on lower time frames. This rare event caused significant pain for both bulls and bears alike, as the asset’s price surged from $99,000 to $102,200 before dropping back down to $100,500.
The unusual trading volume that accompanied this move led to a staggering $106 million in liquidations across the cryptocurrency market, with short and long positions equally affected. This rare 50/50 split is unheard of, highlighting the extreme volatility currently gripping the market.
As Bitcoin approaches the critical $100,000 level, many traders were bracing themselves for a potential reversal or correction. However, Tone Vays has decided to buck this trend by taking a long position at this crucial price point.
While it remains unclear what inspired this change of heart in Vays’ approach, some have speculated that his reversal may be linked to the cryptocurrency’s recent resilience and capacity to bounce back from earlier declines.
As one of the most respected voices in the crypto space, Tone Vays’ opinion carries significant weight. His decision to go long on Bitcoin at $100,000 is likely to send ripples throughout the market, with traders around the world carefully considering his words.
In conclusion, it’s essential for all investors and traders to stay vigilant and adapt to this rapidly changing market landscape.
Source: u.today
