Tone Vays Reveals Bitcoin Breakout Incoming

The popular trader Tone Vays is revealing a Bitcoin breakout incoming that is just around the corner. Check out the latest reports about this below.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $27,928.

Seasoned trader Tone Vays believes that Bitcoin’s (BTC) current consolidation is setting up the king crypto for an imminent breakout.

In a new strategy session, Vays said that Bitcoin’s consolidation is healthy as it allows BTC to take a breather before continuing its trend.

He gives an example of how Bitcoin consolidated at the height of last year’s bear market. According to Vays, Bitcoin cooled off for a time between May and June 2022 before breaking below the key psychological area of $20,000.

“Consolidations tend to lead to continuations of trends… We saw that here [May 2022]. Consolidation after a big drop led to another big drop.”

Vays also said that BTC remains in an uptrend as it consolidates between $27,500 and $28,500.

“So now we have a new range, and let’s see if we [are] now going to head to the top of the range. I’m optimistic here, and I think this consolidation is good, and the more time we spend between $27,500 and $28,500, the better the breakout is going to be [this] week.”

In the latest reports, it seems that Tether’s chief technology officer (CTO) Paolo Ardoino has recently addressed a bullish sentiment on Bitcoin (BTC) as the flagship crypto asset sits below $30,000.

Ardoino says in a new CNBC interview that Bitcoin could “easily retest” its all-time high of slightly above $69,000 reached in November of 2021.

“I’m bullish given all what I said in terms of geopolitical uncertainty…

I’m bullish on Bitcoin. I think that it can easily retest the all-time high levels around $60,000+.”