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<ul class="news-points"> 
 <li>Youtuber Michael Pizzino analyses the macro-market structure with BTC and other altcoins. </li> 
 <li>More than seven consecutive bars signify there could be a major trend reversal or consolidation, Pizzino says.</li> 
 <li>0.5 Fib retracement supports BTC while ETH tries to break above it.</li> 
</ul> 
Youtuber Michael Pizzino <a href="https://twitter.com/PizzinoMichael/status/1670861349801594884" target="_blank" rel="nofollow">tweeted </a>a link to a video wherein he analyses the macro market structure along with <a href="https://coinedition.com/what-is-bitcoin-everything-you-need-to-know/">Bitcoin</a> and many of the favorite altcoins of today. Addressing the high hopes that the masses have in some coins, Pizzino stated that it was only the marketing companies outplaying the masses. Making an eye-opening statement, Pizzino stated: 
<blockquote class="wp-block-quote"> 
 A big cloud remains over Crypto but Bitcoin ≠ Cryptocurrency. Altcoins are still trading below their major support zone, and many crowd favorites of this cycle WILL NOT make it. 
</blockquote> 
Narrowing down his observation on BTC dominance in the market, Pizzino stated that if there were seven or more consecutive red or green bars, then there was a trend reversal or at least a period of consolidation. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img decoding="async" src="https://www.tradingview.com/x/sK32NNTU/" alt="MarketCap BTC Dominance 1-Day Chart ">
 <figcaption class="wp-element-caption">
 MarketCap BTC Dominance 1-Day Chart (Source: <a href="https://www.tradingview.com/x/sK32NNTU/" target="_blank" rel="nofollow">Tradingview</a>)
 </figcaption>
 </figure>
</div> 
Furthermore, cementing his argument, Pizzino demonstrated his observation by highlighting the c…
The post <a rel="nofollow" href="https://coinedition.com/crowd-favorite-altcoins-will-not-make-it-states-youtuber/">Crowd Favorite Altcoins Will Not Make It, States Youtuber</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Crowd Favorite Altcoins Will Not Make It, States Youtuber

Coin Edition

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