Veteran Trader Tone Vays Puts Bitcoin Traders on Notice, Says BTC Showing ‘Very, Very Rare’ Bearish Signal

Veteran Trader Tone Vays Puts Bitcoin Traders on Notice, Says BTC Showing ‘Very, Very Rare’ Bearish Signal


Veteran trader Tone Vays is putting Bitcoin traders on notice as he believes the leading cryptocurrency is flashing signs of weakness.

In a new strategy session, Vays tells his 114,000 YouTube subscribers that while Bitcoin continues to inch higher, lower timeframe indicators are now showing bearish signals.

 

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“But I don’t like the oscillators on the four-hour timeframe, and it’s coming into an MRI [momentum reversal indicator] top. So you really want to be careful here. You want to be a little bit cautious… So this is of concern. This is not normal. You don’t normally get a bearish CMF as the price is breaking out to a new high. That is very, very rare. That’s what happens when your volume is declining so badly.”

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