Here’s the line in the sand for a Bitcoin breakout, says veteran crypto trader Tone Vays

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Veteran crypto trader Tone Vays has said that a key price point will serve as a break line for Bitcoin’s next price spike.

In a new strategy session, Vays says he originally expected Bitcoin (BTC) to fall even further to around $ 54,000, but that might not happen.

The trader tells his 115,000 YouTube subscribers that he likes the fact that Bitcoin’s 128-day moving average is about to surpass its 200-day moving average, which could suggest more bullish price action in the middle and long term.

Vays says that one more green daily close would put BTC very close to $ 64,000, which he calls the “break line” for the crypto king. He thinks the resistance around $ 66,000 is not strong enough to prevent another rise.

“It would bring us very close to that line, and I use that line as a break line … If we can get past that line, I see very little chance that this top will hold, and once we get past that line of $ 64,000 on a sustained basis or close end or 24 hour average, I will anticipate this high will drop quickly and rise and rise and rise and rise. So the daily chart, while neutral, is definitely bullish. “

Back in September, Vays accurately predicted that Bitcoin would hit all-time highs in mid-October. The next part of his prediction sees BTC making its way all the way to the six-digit mark at the end of December.

“As before, in early October or mid-October, I expect us to start questioning previous all-time records and then a huge ramp up at the end of the year.

From mid-October to the end of December, I expect us to go from $ 65,000 to $ 100,000. This is still my goal.

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Featured Image: Pixabay / Norm_Bosworth

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