- Jason Pizzino indicates Bitcoin is showing strong bullish signals, predicting key market movements around March to April 2024.
- The macro trader links a peak in Bitcoin’s ATR to past bull market onset, highlighting bullish activity with interim corrections.
- Pizzino suggests altcoins may be entering an accumulation phase as Bitcoin profits shift to them, emphasising the value of personal research and learning from past investment outcomes.
BTC With Strong Signals
Jason Pizzino, Crypto YouTuber and macro trader, recently published a series of videos laying out his views of the current bull run. Pizzino suggested that Bitcoin (BTC) is displaying strong signals that support the potential for continued upward price movement. He based this both on technical analysis indicators and market trends.
He stated that recent price actions of Bitcoin, such as the formation of higher highs and higher lows, which are typical indicators used by traders to signify an uptrend.
He said that March to April 2024 will be important for investors to watch, adding,
I think this is all sort of building up to something interesting at that particular time. So, I don’t think this is the absolute run to new all-time highs. I think there’s still a possibility that we come up and test and start to fade out again into that time period of next year.
Jason PizzinoAverage True Range (ATR)
Pizzino examined the Average True Range (ATR) indicator, a tool for assessing volatility over a specific period. He notes that there was a 1,030-day gap from the peak of Bitcoin’s price in 2017 to the onset of a bull market in 2021, a period that also matched the peak in ATR. Extrapolating from this timeframe, he predicts that March 2024 might mark the start of another Bitcoin bull market, though he anticipates some price corrections during the buildup.
Altcoins to Rally
In another video Pizzino explained that while alts have been lagging behind Bitcoin, they may be about to enter into accumulation phase. He pointed out that profits from Bitcoin are moving into other cryptocurrencies, causing their value to rise.
Pizzino highlighted the importance of doing your own research, along with learning from past mistakes to develop successful investment strategies. He said that by recognising the higher lows, one could have identified the accumulation period, which many investors overlooked.
Don’t be part of that, try to identify how they got it wrong and do the opposite, and learn strategies and ways to not get it wrong because this is just going to be part of investing for the rest of your life if you choose to invest and trade for the rest of your life.
Jason PizzinoCredit: Source link
