Cryptocurrency analyst Ton Weiss believes that in the short term, the bitcoin rate may rise, but after new records a correction will come.
According to the veteran of the cryptocurrency market, the end of the short-term correction is indicated by the MRI indicator, which indicates that the bitcoin rate has already found the bottom. But even after BTC rises again, a larger correction awaits it, as traders will take profits. Ton Weiss believes that Bitcoin could reach $ 72,000 in the coming weeks, after which the sale will begin.
“The current candle looks very promising, it is almost a reference candle in a trend reversal. It will be necessary to track the MRI during the growth, but I am sure that the correction is over and the market will start to grow. If we see a new price record this week and next week, it will be the third consecutive peak in the MRI. And this hints at a significant correction, ”said Ton Weiss in another video on his channel.
Recall that on the morning of March 14, the rate of the first cryptocurrency set a new price record above $ 61,000. However, on March 15, Bitcoin began to correct again and rolled back to $ 54,000. Now BTC is trading at $ 54,900.
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