Veteran Trader Tone Vays Waiting for Bitcoin To Break Crucial Level To Turn ‘Super, Super Bullish’

Veteran Trader Tone Vays Waiting for Bitcoin To Break Crucial Level To Turn ‘Super, Super Bullish’


Veteran trader and analyst Tone Vays says he’s waiting for Bitcoin to take out a crucial level before turning “super, super bullish” on the largest cryptocurrency.

In a new strategy session, Vays tells his 114,000 YouTube subscribers that Bitcoin is currently flashing mixed signals.

 

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“Here’s the bearish case: we have had numerous lower-swing lows and numerous lower-swing highs. That is a bearish channel that I can draw… That’s a bearish picture.

Here’s the bullish picture: we bounced absolutely, beautifully off the 128-day moving average, which has just rounded upwards. That is a bullish sign. We are making very nice wicks on the lower end.” 

Vays says Bitcoin bulls must push the leading cryptocurrency above a key price level to regain its bullish momentum.

“I am waiting for the break of the $48,000 area in order to be super, super, super bullish on Bitcoin. But we may be lowering this to the break of the final moving average.

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