Full Bitcoin Move Could Be Invalidated At This Key Level, According To Trader Tone Vays

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Veteran crypto trader and strategist Tone Vays says Bitcoin (BTC) needs to stay above a key level to maintain its bullish momentum.

In an interview with crypto analyst Scott Melker, Vays explains why he is bullish on the leading cryptocurrency.

“Invalidating is going to be hard, even on a daily basis. Right now I would need a full reversal and pull out the last dip in the swing. I look at the daily chart, and that’s what I mean by that price of $ 30,000. I was looking at two things.

I don’t like the consolidation down. For me, consolidation from the bottom tends to bring prices down. But my own indicator has this green arrow here [July 21st]… I was bullish that day… The buy signal is a buy signal, and it has turned into a movement in its own right, and now we have a continuation of higher highs and lows.

Although the crypto-trader’s veteran claims Bitcoin is sending bullish signals, he identifies a crucial price area that he believes BTC needs to stay above to keep its uptrend intact.

“On a daily scale I would need a close supported below $ 44,000 and then another full candle below. Even then I have impressive support at around $ 42,000. serious downside to reversing this whole trend I’m pretty damn optimistic right now.

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Featured Image: Shutterstock / Fer Gregory

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