Crypto analyst Jason Pizzino believes that an under-the-radar indicator is suggesting a potential rally for Bitcoin (BTC) to reach new all-time highs. Pizzino explains in a recent video update to his 328,000 YouTube subscribers that Bitcoin has historically experienced “stealth moves” to the upside when its average true range (ATR) indicator reaches a local low while the price consolidates or forms 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 ready to break out to a new all-time high. He cites the rally witnessed during the early days of the Covid-19 pandemic as an example of a stealth move.

Pizzino highlights the significance of the breakout day during the Covid-19 rally, which lasted for about 222 days. He measures the duration from the low to the breakout day. The breakout occurred at the $12,000 mark, after which Bitcoin skyrocketed, with more people entering the market.

Pizzino also points out that TOTAL3, which measures the overall market cap of cryptocurrencies excluding Bitcoin, Ethereum (ETH), and stablecoins, is exhibiting a similar pattern to the sudden breakout in 2020. He sees this as a stealth move, indicating a potential shift in market sentiment.

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

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