Veteran cryptocurrency trader Tone Vays believes that Bitcoin (BTC) is now in a position to resume its uptrend after weeks of consolidation.
In a new strategist session, Vays tells his 122,00 YouTube subscribers that while Bitcoin is in a “buy spot,” he prefers that BTC start to show signs of strength.
According to the crypto strategist, Bitcoin’s outlook will be greatly improved if it manages to remove its immediate resistance.
“It really is time for Bitcoin to go up.
However, from a weekly perspective, there really isn’t enough optimism… But you know I prefer strength. I prefer new highs. I prefer the sprouts.”
Vays goes on to say that Bitcoin is likely to post a new yearly high once it breaks above $30,000.
“We still have a little bit of time on a weekly scale until we hit 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 will run into some resistance here at $34,000. So at this point, $34,000 is my resistance, and we should accelerate above $30,000.”
The Lucid SAR is a directional trend indicator that is a variation of the Parabolic SAR. Combine price and time to calculate trends and detect entry and exit points.
Bitcoin is trading at $27,750 at the time of writing. The top-ranked crypto asset by market capitalization is down more than 1.5% in the last 24 hours, but is up more than 2.5% in the last seven days.
Yo
Don’t miss a thing: sign up to receive crypto email alerts straight to your inbox
Check Price Action
follow us TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.
Image generated: halfway
