Popular crypto analyst Tone Vays is “very bullish” on the outlook for bitcoin and says an all-time high is likely if BTC can maintain its momentum.
Speaking in a YouTube video published July 27, Vays highlighted bitcoin’s rising market dominance, in addition to price, as an indicator for the cryptoasset being poised for a sustained rally. Vays claimed to be “very bullish” on bitcoin and hinted at the possibility of reaching a new all-time high.
He said:
So as long as this trend continues, I will be very bullish on Bitcoin. I think Bitcoin will have a pullback back to $10,000. After that, it can take off to a new all-time high quickly, just like gold. I’m still bullish on Bitcoin very much. I’m not touching my HODL position.
The popular crypto analyst said he was “way more bullish” on bitcoin now than in mid-2019 when the price rallied to near $14,000.
Despite predicting the possibility of an all-time high, Vays pointed to a final hurdle for bitcoin before moving to new price peaks.
He continued:
I need a full candle above the trend line. This is a start. It looks like this candle will begin and end above the trend line. That is step number one to a sustained trend line break.
Vays said if bitcoin could sustain a full candle above the trendline and close above $10,000 on a weekly scale it would be “enough” for him to be confident of bitcoin’s upward trend.
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