Top crypto analysts are plotting the trajectory of Bitcoin after a BTC breakout that’s one for the books.
In a new video, veteran Wall Street trader Tone Vays says the momentum reversal indicator (MRI), a key indicator that predicts the end of a trend based on price momentum, is starting to flash sell signals.
“So Thursday, there will probably be an MRI top and that would be interesting because Thursday we will probably have a daily MRI top inside a weekly MRI warning. Now there’s still room to make it to a double MRI top and I will keep an eye on that, but Thursday might get me out. If we continue rising into $18,000 into Thursday, Friday, that becomes a great exit for me.”
The trader’s short-term bearish stance comes after Bitcoin prints a historic breakout.
Singapore-based trading firm QCP Capital highlights BTC’s “longest and most stable” rally in its history after a move of over 73%