Experienced crypto trader Tone VaysHe noted that the technical indicators of Bitcoin (BTC) have signs of a potential bounce.
Speaking in a new YouTube video he posted, Vays noted that he believes the 20-month moving average can act as support for the leading crypto asset.
“The only good news we have on the monthly chart is that we are sitting on a moving average. This moving average could save us, and remember what I said: We’re not in anyone’s field right now. And this, Bitcoin (BTC) It’s the only area that’s perfect for jumping in.”
At the time of writing, the 20-month moving average was hovering around $35,234.
Looking at the daily chart, Vays said that the momentum reversal indicator (MRI), a metric that predicts the end of a trend based on an asset’s price momentum, is ready to go bullish.
“Daily chart, this is pretty good news. The daily chart comes with an MRI purchase. And Monday will be an MRI reception. I can’t see us avoiding an MRI purchase on Monday… So I expect we’ll be back on Monday. I don’t know where this comeback will come from. We’re going to buy an MRI. It could be higher. It may be lower.
But I expect a return to at least the breakout zone ($40,000) on Monday, perhaps forever. Maybe we’re at a low level right now. This is actually a great place to catch miscarriages.”
bitcoin It is currently trading at $35,646.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.