Tone Vays is a seasoned trader who is issuing a Bitcoin (BTC) alert, warning that a significant correction is on its way. In a recent strategy session, Vays informs his 123,000 YouTube subscribers that Bitcoin is highly likely to show a bearish signal on the Momentum Reversal Indicator (MRI). This indicator is an advanced technical analysis tool that predicts trend life cycles rooted from an asset’s momentum. According to Vays, Bitcoin might witness a slight rally within the next twenty-four hours before its price decreases a bit. Vays states that Bitcoin could freefall to the $29,000 levels in terms of his hypothetical pessimistic scenario. Conversely, a bullish encouragement could take place if the short-term Bitcoin retraction happens and the cryptocurrency sets up for a rally towards $34,000. The optimistic outlook assumes that Bitcoin records a correction to $30,000 only before launching an uptrend.

At the point of writing, Bitcoin is trading at $30,323. The veteran trader wrapped up the session by specifying that how the cryptocurrency behaves depends on how it closes the current day.

No matter what the outcome of the predicted pullback will be, investors should keep in mind that this analysis does not guarantee a definitive result and that trends can change rapidly. Therefore, Tone Vays’ prediction should be taken with a grain of salt.



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