- Top crypto analyst Jason Pizzino warns that the bears should be extra cautious.
- Pizzino is also analyzing the possibility of the market already bottoming out.
- The crypto market has been putting on a rally for the past two days.
Popular crypto trader and analyst Jason Pizzino is looking into the present market conditions and the probability of the market already hitting rock bottom. Pizzino said in a recent YouTube video that cryptos including Bitcoin and Ethereum are unlikely to fall to their bottom levels.
Pizzino is a prominent trader with over 278k subscribers on YouTube. He stated that if BTC crosses its highest value in August, the probability of it falling to $10,000 is meager.
If we get a little bit higher to this next swing top at $23,000, and, of course, my Wyckoff flips at $23,200, and then the monthly swing top at $25,200, so that is going to be the big one that the bears are going to have to watch
Pizzino stated that it is not looking good for the $10,000 Bitcoin bears. Speaking about Ethereum, he stated that ETH is staying robust and the chances of it hitting $500 are unlikely.
He stated that ETH is being pumped away and the consolidation is above the previous zone. He also added that it is better to forget ETH hitting the $300-$500 range. Pizzino highlighted that the extreme bears are in the process of getting absolutely crushed.
The global crypto market that has been putting on a green rally has slightly turned reddish. BTC is currently trading at $20,184 and ETH at $1,502. BTC is down by 2.3% and ETH by 3% in the last 24 hours. It is unclear at the moment whether the two-day bullish stance was a bubble and whether the market is going back to its bearish stance.
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