In a recent strategist session, seasoned crypto trader Tone Vays shared his insights on Bitcoin’s current market conditions and its potential for a price surge. With his vast experience in the industry, he outlined key factors to watch for in Bitcoin’s journey toward an upward trend in his recent video.
According to Tone Vays, “It really is time for Bitcoin to rise. I prefer new highs. I prefer breakouts.” Let’s delve into his expert perspective and examine the important details.
Vays emphasized the significance of Bitcoin surpassing its immediate resistance levels. While acknowledging the lack of bullishness from a weekly perspective, he pointed out the need for Bitcoin to break through these resistance levels to signal a stronger market momentum and a call for a rally.
Catalysts for a New High
After crossing $30,000, Vays expects Bitcoin to reach a new yearly high. He noted that a push above $30,000 could be met with opposition at $34,000. The Lucid SAR, a directional trend indicator, must be reversed for a positive indication, according to the analyst.
As of the time of writing, Bitcoin is trading at $27,750, experiencing a minor decline of over 1.5% in the past 24 hours. However, it has recorded a gain of more than 2.5% over the past week. These market fluctuations indicate the ongoing consolidation phase Bitcoin is currently navigating.
Bitcoin’s Next Move
Bitcoin traders and enthusiasts eagerly await the cryptocurrency’s next moves as it strives to regain its upward momentum. The upcoming resistance levels and the importance of sustained strength will play a pivotal role in determining Bitcoin’s trajectory in the near future.
