Tone Vays says Bitcoin weekly MRI is disappointing after the MRI continuation count failed by $100 at the close on weekly time frame.
The MRI perfectly played out on the hourly time frame chart before 4 candles correction followed before moving back up. There was a minute pull back in the 4-hour candlesticks time frame chart, which is insignificant in hindsight since Bitcoin is continuing setting higher lows and that is a bullish sign. (1:15)
The daily chart continues to consolidate. And once the daily price closes above $59,000 (which will be the second highest daily close ever) and support is established, a big Bitcoin break out should be anticipated. (2:37)
Tone says he is building a case for a new weekly MRI setting and expects Bitcoin to consolidate for 3 to 4 more days for a better construction. Closing the video Tone added that he is looking forward to the battle between Ethereum developers and Miners battle against Ethereum Improvement Proposal — EIP1559. [Let’s see how that plays out!] (6:25)
This episode premiered on March 22nd, 2021
