Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Coinpedia Fintech News on April 27, 2023, 01:58:34 PM
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Crypto expert Jason Pizzino has issued a warning to investors in Bitcoin, as the leading cryptocurrency continues to struggle to break key levels. Despite a recent 5% price increase from the April low, Pizzino cautions of potential downside risks. In a recent YouTube video, he suggests that Bitcoin's recent recovery may just be a "pity bounce" before a further downtrend.
Pizzino points out that Bitcoin has yet to surpass the crucial $28,500 level and the 50% Fibonacci retracement level at $29,337, which are necessary for short-term strength to enter the market. Only then can it attempt to break the $30,000 and $31,000 barriers once again. However, he notes that the current rally seems more like a temporary surge facing diagonal resistance. Investors in Bitcoin should pay attention to these warning signs to make informed investment decisions.