While the uncertainty in the crypto money market continues, Analyst and Trader Jason Pizzino drew attention to signals that tend to decrease on the price of Bitcoin (BTC) and the overall market appearance. In his latest assessment on Youtube, Pizzino said that both the decrease in interest in Bitcoin and the decline in the transaction volume offers signs that the market is weakened. According to the analyst, critical levels need to be exceeded in order for Bitcoin to enter the rise trend.
Analyst is cautious about the price of bitcoin
Crypto money analyst and Trader Jason Pizzino show a cautious stance on Bitcoin (BTC) while the market tends to decline. In his latest video addressing the 348,000 YouTube subscriber, Pizzino said that the possibilities of collapse continue to increase ”for Pizzino, Bitcoin and other crypto beings. According to Pizzino, one of the most important signals in the direction of fall is the decrease in interest in Bitcoin. Analyst examining Google Trends data, Bitcoin and crypto money calls, drawing attention to the decrease in the calls used:
Here I see some things that show that the probability of collapse has increased, and one of them is the data coming through Google Trends. Fewer people are searching for Bitcoin and crypto money… The level of interest for Bitcoin has fallen out of 100 out of 100 and 12 for crypto currencies.
Looking at the wider crypto money market, another decrease sign that Pizzino points to the decrease in the daily transaction volume in the central stock exchanges. The analyst emphasizes that the transaction volume follows a downward trend:
We did not decrease below the daily trading volume of 50 billion dollars, we did not decrease to the previous 30 billion dollars, but we could not approach 120 – 130 billion dollars. We are currently in the region, but there is a clear downward trend – lower peaks, lower bottoms… This graph shows me that there is more weakness because it does not continue to create peaks with increasing volume.
What is a need for BTC rise?
Pizzino says that Bitcoin must exceed a critical level to gain acceleration of rise again. Analyst, ” I need to see the price of Bitcoin on this summit – the highest point of the big decline and recovery on February 3, ie 102,600 dollars… Let’s round it and accept 103,000. I want to see how to go above this level and stay there. So the closing of a few days should be above this level. There may be fluctuations in the day, but it is important that the closing of the day is above this level. ” says.
