According to the cryptocurrency strategist, many investors have already “bought off the bottom of bitcoin,” so the first cryptocurrency is preparing for continued growth.
However, this requires overcoming resistance at the level of $30,000.. But if the bulls manage to do it, BTC will renew its price highs, Veis believes.
“It’s really time for bitcoin to rise.. Although, if you look at the weekly chart, the bulls lack strength.
But, you know I like strong assets, new records and breakthroughs. While there is still time to overcome resistance.
We need to exceed $30,000, reverse the indicator Lucid SAR and then we will rise to $34,000, where the next resistance is waiting.
I think that will happen,” the cryptocurrency analyst said in his video.
Lucid SAR indicator is a variation of the Parabolic SAR indicator. This is a directional trend indicator.
It combines price and time to calculate the trend and determine entry and exit points.
Ton Weiss said recently that the probability of bitcoin rising is markedly higher than the chance of falling.
In doing so, the first cryptocurrency pushed back from the $26,000 level and BTC is now trading near $28,000.