Crypto Trader Says, BTC Will Have Rallies & It is In Full Bullish Mode

Tone Vays, a veteran crypto investor, says that Bitcoin (BTC) is in full-on bullish mode and will rise in the near future.

In a new strategy session, the experienced analyst tells his 123,000 YouTube followers that the top crypto asset by market cap is showing signs that it is about to burst up.

“I highly doubt we’re gonna crash in the next 12 hours, so [the] next candle will be a green star candle and that hopefully will set us off on a new swing high.

The last green star candle took all the thunder. Now, most of the thunder will happen on the reversal candle, which is not [an] officially tradable candle, but the moving averages are crossing over into bullish territory and the weekly chart is now [in] full bullish mode based on Consensio.”

The Consensus trading method uses three different moving averages to figure out how fast an asset is moving and how big a position to take.

If you look at the trader’s chart, it looks like he thinks Bitcoin will rise toward his original goal, which was around $34,000. Vays thinks that Bitcoin could go all the way up to $55,000 if it breaks above his first goal.

Even though Vays is optimistic about BTC, he says that the daily chart for Bitcoin shows that the crypto king is about to go through a time of consolidation.

“The daily chart is on an MRI (momentum reversal indicator) top, so the last 24 hours was a good time to take your profit.

We just started a brand new candle. I am looking for a one- to four-candle correction, but this correction can certainly be consolidation, and I am leaning more toward consolidation.

I think we’re gonna hold $30,000 here but be careful with the S&P 500… The daily S&P 500 actually has room to go down another 5% or so, maybe 3%, down into the 4,275 area, so [it] could fall most of [this] week and that could drag Bitcoin down a little bit.”

At the time of this writing, the price of Bitcoin is $30,173, which is down nearly 1.50% from 24 hours ago.