Cryptocurrency analyst and trader Jason Pizzino tends to Bearish on bitcoins (BTC) among a market decline.
In the new video, Pizzino reports to its 348,000 subscribers on YouTube that “the probabilities of the accident continue to grow” for bitcoins and other crypto -acts.
According to Pizzino, one of the bear signals that he observed is to fall in interest in bitcoins.
“A few more things that I see regarding the probabilities of the accident, here are interests through Google’s trends. So less people are looking for bitcoins and crypto …
… volumes now up to 24 [out of a maximum 100] for bitcoin and 12 for crypto.
On a wider crypto market, the analyst was widely followed that one of the signals suggesting that the bear is a daily exchange volume, the cost of all transactions with a cryptocurrency made on centralized exchanges for a 24-hour period, which is located on a downward trend.
“We have not broken from $ 50 billion [of daily exchange volume]We did not return to the previous minimums of $ 30 billion, but we did not return to these maxima $ 130, $ 120 billion. So, we are in this kind of average period, but you can clearly see that the trends are reduced – below maximum, below the fall …
… so in fact I see more weakness in this particular [daily exchange volume] The diagram, because there were no higher maximums that continue to form with an exchange volume. ”
According to Pizzino, for Bitcoin to change the impulse to the bull
“I would have to see how Bitcoin Price is a break above this peak – this is February 3, this large landfill and the pump day, and the top was 102,600 dollars … So for a round number, name it $ 103,000.
And I want the pump to go there and supports above this level, above $ 103,000. Thus, some are closed, another daily price action is higher, some are closed. This can lower intraday, but at the end of the day I want to see the closure above these levels. ”
Bitcoin is trading at 96,220 dollars at the time of writing.
Generated image: midjourney
