Veteran Analyst Tone Vays Says Bitcoin Gearing Up for a Larger Correction – Here’s When

Wall Street veteran and crypto analyst Tone Vays says Bitcoin is setting the stage for a larger correction.

In a new strategy session, Vays tells his 104,000 YouTube subscribers that he believes BTC is set to rally in the short term but may face a big sell-off after.

The Wall Street trader says the momentum reversal indicator (MRI), an indicator that predicts the end of a trend based on price momentum, is already flashing signs that BTC has bottomed out for now.

“The current candle is looking very promising. That is a beautiful reversal candle even though I like seeing more candles of a trend before considering reversal candles but that is still a nice candle. We have already reset the MRI count so we will have a brand new MRI count to the upside if this thing keeps going.

I believe the correction has ended… I am calling it right here on live air that I believe we are now going to be bullish.” 

As Bitcoin has managed to regain its bullish momentum, Vays believes that the leading cryptocurrency is now poised to print a new all-time high above $72,000 in coming weeks.

After the climb, however, Vays expects BTC investors to take profits en masse.

“If we do close this week at or right near a new weekly closing high, we are back on track for the third consecutive MRI top. Once this third consecutive weekly MRI top comes into play, I believe a bigger correction will follow. It would be awesome if this weekly MRI top in two and a half weeks would coincide with a fresh new daily MRI top.” 


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Disclaimer: Opinions expressed at are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is an investment advisor. Please note that participates in affiliate marketing.

Featured Image: Shutterstock/Gulsrud Action Media

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