Bitcoin (BTC) Is Setting Itself up for 'Big Blow-off Top Moves,” Crypto Analyst Jason Pizzino Thinks
- WBOYOriginal
- 2024-07-19 14:48:10560browse
In a new YouTube video, Jason Pizzino tells his 331,000 subscribers that he thinks higher volume and higher closes on the daily chart indicate that
Bitcoin (BTC) price action suggests that $53,500 may have been the low, according to one crypto analyst. In a new YouTube video, the analyst known as Jason Pizzino is also predicting “big blow-off top moves” for the next four to six quarters.
Pizzino tells his 331,000 subscribers that he’s looking at higher volume and higher closes on the daily chart. He thinks the BTC price chart is setting up for big moves up.
“This cycle so far we’ve seen two red quarters, so it could be one more red quarter to come up for Bitcoin, maybe two. Just looking at only these last few data points, and on the other hand, it doesn’t mean that we have to have any more significant red quarters. There could be one, there might not be any others. So after this point, blow-offs leading into this quarter 4 of 2024 and then into 2025 I think we are on for some big, big moves, dare I say big blow-off top moves.”
A blow-off top is a technical analysis chart pattern that shows a sudden rise in price followed by a sharp decline. It’s usually associated with a euphoric market top and unsustainable price levels.
At the time of writing, BTC trades at $64,600. The top-ranked crypto asset by market cap is down more than 0.5% in the past 24 hours but up more than 12% in the past week.
The above is the detailed content of Bitcoin (BTC) Is Setting Itself up for 'Big Blow-off Top Moves,” Crypto Analyst Jason Pizzino Thinks. For more information, please follow other related articles on the PHP Chinese website!