- Trader Michael Pizzino discussed short-term performances for major coins such as BTC and ETH.
- According to the analyst, BTC could fall into a bearish cycle if it breaks the below the $26,600 level.
- The danger sign for ETH, Pizzino says, is that it breaking under the support of $1840
In his latest YouTube video, Analyst Michael Pizzino discussed short-term performances for major coins such as BTC and ETH and his predictions for these tokens. In the video titled “Bulls TRAPPED In Crypto Pump?! Watch THIS Bitcoin Signal” the analyst performed a quick analysis of BTC, Ethereum, RNDR, SOL, MATIC, ADA, among others.
Is that it for the tiny crypto pump?! Some clear signals are popping up to tune in for some rapid-fire analysis on BTC, ETH, SOL, MATIC, ADA, PEPE & RNDR.https://t.co/N4Ri4UyI3Z— Michael Pizzino (@PizzinoMichael) May 24, 2023
Pizzino elaborated that Bitcoin’s short-term trends were up and that things are looking “okay” in the short term. However, the analyst adds that for the bull market narrative to hold up, BTC would have to hold up the trend line at the 50 percent level, this line also lines up with several other previous bottoms. Pizzino maintains his short-term bullish stance and adds that his stance will be invalidated if the price breaks below the $26,600 level.
BTC/USDT 4-hour chart (Source: YouTube)
In the case of ETH, the analyst believes that there is a stronger position than what was seen yesterday. The short-term tops, Pizzino says, are acting as new bottoms. The danger sign for ETH, the analyst adds, is it breaking under the support of $1840.
ETH/USDT 4-hour chart (Source: YouTube)
Moreover, Pizzino is short-term bullish on RNDR and believes the volatility is up, a little more than in other markets. The trends in RNDR are still up on the shorter-term time frames. Solana however, the analyst says, is struggling at the $20 price point even though it is up on its short-term time frames. Furthermore, MATIC is merely holding up having flashed short-term bearish signals. Finally, ADA is holding up as well but is yet to venture into the bullish narrative.
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