It is possible that “the big transition to the upward trend” to Bitcoin, where the flash of many indicators: Jason Pizzzino
A wide -ranging encryption analyst says that many indicators suddenly flash up to BTC.
In a new video update, Crypto Jason Pizzzino Recount YouTube subscribers, 350,000 YouTube, may prepare that Bitcoin for explosive move to the upward trend after starting to the mid -90,000 dollar range.
“Bitcoin broke out the monthly monthly month, which canceled the macro landing signal from the top, a sign mainly called the top in December and January, a signal called the summit from March 2024 and that led to a 30 % correction.
After that, he says that the weakness of the US dollar, as measured by the US dollar index (DXY) indicates that Bitcoin may go to the top based on a historical precedent.
The US dollar index is a standard for the value of the US dollar compared to a basket of other global currencies circulating on a large scale. DXY indicates the bullish trend to strengthen the US dollar, while DXY indicates the weakness of the US dollar.
“Moreover, the US dollar closed its lowest price in about 37 months. This is on the weekly graph, and the monthly comes in just three days. Usually, when this happens, we see another great move to the bullish direction of BTC. So, most likely, we probably look at that, we probably look at that.
Finally, he says another factor indicates that the price of Bitcoin will rise is the decrease in Tether (USDT) – the maximum USDT market ratio for the rest of the encryption assets.
“In addition, the USDT dominance also collapses, which breaks the main levels in the past that we were following, however, we still keep a 50 % of the time.”
Bitcoin is trading for $ 95,252 at the time of writing this report, an increase of 2.5 % in the past 24 hours.
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