Veteran Trader Tone Vays, Says That BTC Is Ready To Rise

Tone Vays, who has been trading cryptocurrencies for a long time, thinks that Bitcoin (BTC) is now ready to restart its uptrend after a few weeks of consolidation.

In a new strategist session, Vays tells his 122,000 YouTube followers that Bitcoin is in a “buy-the-dip situation,” but he would rather it start showing signs of strength.

The crypto strategist says that Bitcoin’s future will look much better if it can break through its current resistance.

“It really is time for Bitcoin to rise.

From a weekly perspective, however, there’s really not enough bullishness… But you know how I prefer strength. I prefer new highs. I like breakouts.”

Vays says that once Bitcoin goes above $30,000, it will probably set a new yearly high.

“We still have a little bit of time on a weekly scale until we go and make a new high. We need a few thousand more to go. We need to break $30,000, we need to flip the Lucid SAR, and then we’re going to run into some resistance here at $34,000. So at this point, $34,000 is my resistance, and we should accelerate higher above $30,000.”

The Lucid SAR is a version of the parabolic SAR that shows the direction of a trend. It uses price and time to figure out trends and find good times to buy and sell.

At the time this was written, the price of Bitcoin was $27,750. The top crypto asset by market cap is down more than 1.5% in the last 24 hours but is up more than 2.5% in the last seven days.