The present situation of Bitcoin is surprising, since the digital currency continues to retest $10,000 range after going past $12,000 a number of times.

The situation is creating a wave of panic and confusion among cryptocurrency enthusiasts especially this time that the President of United States doubled down on cryptocurrency, mentioning Bitcoin and Facebook’s Libra as digital assets that cannot replace US Dollar with their hyper-volatility.

Although, Bitcoin and the general cryptocurrency market did not feel the attack coming from Donald Trump, a day after the condemnation, Bitcoin saw a drastic drop, falling below $11,000 range in an inexplicable situation.

The downslope of Bitcoin has resulted in traders and lovers demanding to know the next direction Bitcoin would be towing.

Crypto Trader Tone Vays Says 9K impossible.

As Bitcoin continues to trade around $10,656, futures trader Tone Vays is sure the era of $9K is gone. The crypto trader insisted in his observation that Bitcoin cannot be in the $9,000 range.

While Tone Vays understands that Bitcoin can go anywhere and knows the effect of the bearishness of Bitcoin dropping under $11,000, he said his style of trading reveals that Bitcoin cannot reverse in the $9K range.

Tone Vays: “As mentioned in today’s video w/ @UglyOldGoat1, the #Bitcoin drop under $11k is pretty Bearish, price can go anywhere but my style of trading tells me a reversal in $9k range is unlikely. I don’t believe in double bottoms.”

Tone Vays Changed Opinion.

Tone, who said he does not believe “in double bottoms”, earlier thought the bear season was not over because he could not fathom the reasons behind the present bullrun.

While Bitcoin was trading above $13000, Tone insisted there would be a massive pullback to the region of $3000 or $4000 at least.

After carefully observing the present crypto market situation, he changed his stand and concluded that the bulls have taken charge of the market.

Bitcoin Below $11,000

At the time of filing this report, Bitcoin is trading at $10,656. At some point in the last 24 hours, Bitcoin was changing hands at $11,480.97. It has however reached $10,540.43 before jumping to the present price.

Bitcoin, after shedding close to a thousand Dollars in the last 24 hours, has a market cap of $189.70B. The digital currency still has a promising week ahead.