Experienced cryptocurrency analyst and trader, Jason Pizzino, shares his insights on the future direction of the digital asset market.

Addressing his audience of 328,000 YouTube subscribers, Pizzino highlights the significance of the Average True Range indicator in predicting potential movements for Bitcoin (BTC) and other cryptocurrencies. This indicator is utilized to gauge the volatility of an asset, with higher values indicating greater volatility and lower values indicating stability.

Pizzino notes that Bitcoin recently experienced a period of relatively small price fluctuations, suggesting a possible bullish trend on the horizon. He explains, “Bitcoin has seen one of its smallest trading days since January, with a $500 range on a weekend. Typically, this signals a period of consolidation before a significant upward movement.”

The respected analyst remains optimistic about Bitcoin’s prospects, stating that the cryptocurrency is poised for its next upward leg. However, Pizzino emphasizes the need for a consolidation phase before Bitcoin can surpass its previous all-time high of $73,800 reached on March 14th.

While Bitcoin is currently trading at $70,984, Pizzino shifts his focus to altcoins, noting that the combined market capitalization of these assets is showing signs of a potential breakout. He sees this as a stealth move for altcoins, with stronger performers likely to lead the gains once the breakout occurs.

In conclusion, Pizzino advises caution and recommends thorough research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. He reminds his audience that all transfers and trades are undertaken at their own risk, and any losses incurred are their responsibility.

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