Analyst Jason Pizzino calls the condition for the onset of a bull market
The expert singled out the key level when the price of BTC decreases, which the asset needs to hold
15.02.2023 - 12:00
320
1 min
0
The material is not an investment recommendation and is published for information purposes only.
A closely followed crypto strategist believes that Bitcoin (BTC) is gearing up for a fresh rally after the king crypto lost over 10% of its value over the past weeks.
Analyst Jason Pizzino tells his 282,000 YouTube subscribers that he believes Bitcoin is still bullish, but he thinks the top crypto by market cap can go lower in the short term.
“These are the key levels that I’m looking out for in terms of dips: $20,700, $19,800 and then we don’t really want to see the market go any lower than $18,600. If you really want to get that far down, probably these lows here at $18,000. If it does go lower than this point, the structure changes and this is no longer the start of a bull market.”
Pizzino also says he believes that this Bitcoin correction is setting up the king crypto for an incoming surge.
“In terms of my own opinion of the data that I’ve extrapolated here and how I’m interpreting it is that this is the start of the next leg up. We can be bullish in the long term but then also be bearish on the shorter term, and that’s precisely what’s happening right now. So I’m going to use this opportunity to DCA [dollar cost average] into some BTC.”
At time of writing, Bitcoin is worth $21,761, a fractional increase on the day.
This material is taken from the website dailyhodl.com.
Useful material?
Mining
The restrictions are designed to maintain the balance of energy consumption, taking into account the demands of the industry
Dec 24, 2024
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024