Veteran trader Tone Vays says a number of key technical metrics are flipping bullish for Bitcoin (BTC) after enduring a bearish backdrop for most of the year.
In a new strategy session, Vays tells his 122,000 YouTube subscribers that Bitcoin is holding strong as the weekly chart flash multiple bullish signals.
“We still have a higher closing high on weekly candles. We still have a higher swing high on weekly candles. These are both bullish signs. We have a green star candle. We have a bullish count on the MRI [momentum reversal indicator], and we are above the 200-week moving average. These are all bullish signs.
The MACD [moving average convergence divergence] is about to cross over. That’s a bullish sign. We’ve been here before.