Experienced trader and analyst Tone Vays stated that the current price action is just dry noise and predicts a strong Bitcoin (BTC) boom.
In a new video, Vays said that BTC has been on the rise since recovering from the pandemic-induced crash in March 2020.
According to Vays, Bitcoin is trading inside a large ascending triangle on the monthly chart. A technical formation is a bullish pattern that indicates a continuation of an uptrend when an asset breaks resistance.
According to Vays’ chart, BTC must take resistance near $60,000 to ignite a major rally above $100,000.
In the short term, Vays says Bitcoin needs to break above a key level to convince him that the low is definitely in.