Trader Tone Vays Predicted Bitcoin Move To The Upside

It’s been revealed the fact that the Bitcoin (BTC) current period of low-volatility consolidation resolves in a strong breakout rally. Check out the latest reports below.

In a new video update, seasoned trader Tone Vays said that even though the king crypto is in the middle of a “boring” consolidation phase, it’s flashing signs that point toward an upcoming burst to the upside.

Vays said that key moving averages (MAs) on the weekly chart are now acting as support for the king crypto.

“This consolidation is really boring, but it’s bullish. The moving averages are continuing to separate…”

He continued and said the following:

“[The] 50-week [MA] continues to drop, [while] the 200-week is slowly rising, and it will continue to be rising because new candles are above it.”

Vays said that he expects Bitcoin to flash a golden cross on the weekly chart as the 20-week moving average looks primed to pass above the 50-week moving average.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $28,348.

A popular crypto strategist says a massive Bitcoin (BTC) rally to a fresh all-time high is already underway.

Psuedonymous analyst Credible said recently that he believes Bitcoin is in the early stages of a big bull run following a long bottoming out period last year.

According to Credible, Bitcoin’s price action between June to December 2022 is the longest consolidation period for BTC in the last four years.

Dimon said that the recently passed legislation including the Inflation Reduction Act have the potential to create more than $1 trillion in clean technology development.

Make sure to check out the original article posted by the Daily Hodl in order to learn more details about this.