Jason Pizzino Uncovers Overlooked Signal Pointing to Covert Bitcoin (BTC) Surges, Leading to Record-breaking Highs

Jason Pizzino Uncovers Overlooked Signal Pointing to Covert Bitcoin (BTC) Surges, Leading to Record-breaking Highs

A well-known cryptocurrency analyst has revealed a hidden indicator that suggests Bitcoin (BTC) may experience a sudden surge to new all-time highs.

In a recent video update, Jason Pizzino, a crypto strategist with a massive following of 328,000 subscribers on YouTube, explains that Bitcoin has a history of making subtle upward movements when its average true range (ATR) indicator reaches a local low while the price remains stable or shows higher lows.

According to Pizzino, if Bitcoin can maintain a daily trading range average of $1,500 to $2,000 while staying above the $56,000 to $60,000 level, it could indicate that BTC is poised to break out to new record highs.

Pizzino cites the Bitcoin rally that occurred during the early stages of the Covid-19 pandemic as an example of a stealth move. He highlights that during this period, Bitcoin experienced a prolonged upward trend that lasted for about 222 days, starting from the low point and culminating in a breakout day.

He emphasizes the significance of this breakout day, as it marked the point at which Bitcoin surpassed the previous price tops at around $12,000 and skyrocketed from there. Pizzino attributes this to the absorption of supply and the buying pressure outweighing the selling pressure, leading to smaller bars on the charts.

Pizzino also points out that the TOTAL3 indicator, which measures the overall market capitalization of cryptocurrencies excluding Bitcoin and Ethereum (ETH) as well as stablecoins, is showing a similar pattern to the sudden breakout seen in 2020. He suggests that this indicates a potential stealth move in the altcoin market.

At the time of writing, Bitcoin is trading at $67,717, experiencing a slight decrease in the past 24 hours.

It’s important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research and exercise caution when dealing with high-risk investments in Bitcoin and other digital assets.

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