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<p>In a recent <a href="https://www.youtube.com/watch?v=FtyJBSHOxRY" target="_blank" rel="noopener noreferrer nofollow">video</a>, cryptocurrency analyst Michael Pizzino discusses Bitcoin’s (<a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) second-highest monthly close in history and the current state of the market. Pizzino notes that despite this milestone, trading volume and volatility have been extremely low, suggesting that market participants are not reacting strongly to the news.</p>
<h2 class="wp-block-heading" id="key-data-points-and-observations">Key Data Points and Observations</h2>
<p>Pizzino highlights several key data points and observations, including:</p>
<ul>
 <li>24-hour trading volume is up 52%, but this is due to the low daily range and overall low volume levels.</li>
 <li>The 24-hour long-short ratio is relatively balanced at 50.5% vs. 49.5%, favoring the long side.</li>
 <li>Retail fear and greed barometer, using spot ETFs as a proxy, shows steady inflows without extreme levels.</li>
</ul>
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<h2 class="wp-block-heading" id="technical-analysis-and-pivot-points">Technical Analysis and Pivot Points</h2>
<p>The video also covers technical analysis of Bitcoin’s price action on various time frames, focusing on key pivot points and support/resistance levels.</p>
<p>Pizzino discusses the importance of the $69,000 level, which coincides with the previous all-time high, and how a failure to break above this level could suggest a potential correction.</p>
<h2 class="wp-block-heading" id="macro-trends-and-the-u-s-dollar">Macro Trends and the U.S. Dollar</h2>
<p>Pizzino also analyzes the macro trends in the cryptocurrency market, particularly the total market capitalization and the U.S. dollar. He notes that the U.S. dollar appears to be forming a major top, which could be positive for cryptocurrencies if confirmed.</p>
<p>The total market capitalization remains in an uptrend on higher time frames, with key pivot points to watch for potential breakdowns.</p>
<p>In conclusion, while Bitcoin has achieved a major monthly close, the low volume and volatility in the market suggest that investors should remain cautious and monitor key support levels for potential breakdowns. Macro trends, such as the U.S. dollar’s potential top formation and the total market capitalization’s uptrend, provide a broader context for analyzing Bitcoin’s future price action.</p>
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<p>The post <a href="https://captainaltcoin.com/crypto-analyst-shares-a-bitcoin-btc-move-that-always-leads-to-a-big-pump/" rel="noopener noreferrer nofollow">Crypto Analyst Shares a Bitcoin (BTC) Move That Always Leads to a Big Pump</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Analyst Shares a Bitcoin (BTC) Move That Always Leads to a Big Pump

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