Famous investor and trader Tone Vays stated that Bitcoin (BTC) will show a strong rise in the near future, while pointing to important indicators as a basis for this.
In a recent video by Tone Vays, Bitcoin’s will exit consolidation in two weeks and suggested that it will exhibit a strong upward movement. Emphasizing that the weekly moving averages are currently acting as support for Bitcoin, Vays added that these technical indicators will ignite a more serious rise in the near future.
50-week moving average (MA50) as it keeps falling 200 weeks (MA 200) Noting the gradual rise of the moving average, the analyst said, of bitcoin He said it will continue to rise as long as it stays above the 200-week moving average.
Vays, the 20-week moving average (MA 20), It looks like it’s ready to break above the 50-week moving average, and if that happens, it’s sort of on Bitcoin’s weekly chart. golden cross stated that it will happen.
This consolidation is really boring but bullish. The moving averages continue to diverge. The 50-week MA continues to drop while the 200-week is slowly rising and will continue to rise as it is above new candles.
on the other hand Lucid SAR The analyst, who focuses on the indicator, called the indicator, which is usually used for trend determination, looks good in this data and Another reason to think bullish reminded that.
In a few days, we will have another transition between 20 weeks and 50 weeks, and the Lucid SARs look really nice. So we are still bullish.
Referring to many investment instruments in his video, which is 26 minutes long, the analyst did not hesitate to state that the most logical option in the global markets is Bitcoin, considering the upward trend. Analyst, silver And gold While expressing that opening a short position forshitcoin” he described.