Macro-market structures need corrections to stay healthy

• Analyst Michael Pizzino declares end of bear market in crypto.
• Pizzino predicts bullish future for Bitcoin and select altcoins.
• BTC maintains position above crucial resistance level of $25,200.

In a recent Youtube video, esteemed analyst Michael Pizzino confidently declared the end of the bear market. His assertion was backed by a thorough examination of the macro market structure of cryptocurrency, with a particular focus on Bitcoin and select altcoins. Pizzino’s expert analysis provides a compelling case for a bullish future in the crypto market.

Expanding on his concept, he articulated that individuals are leaving the market while fresh capital enters, thus delaying the commencement of the bullish surge. To allay any apprehensions regarding the recent dip in market capitalization, which appeared to be a bearish trend, Pizzino confidently asserted:

Macro-market structures need corrections to remain healthy

Furthermore, Pizzino articulated that while individuals may hold varying perspectives on what constitutes a bull market, his approach involves analyzing the peaks and valleys. Consequently, he affirmed that as long as the market cap remains above the 860B invalidation threshold, he will maintain his bullish outlook.

In response to the conspicuous lack of high volatility in the current market, a characteristic typically associated with a bullish trend, Pizzino noted that such a tumultuous environment would likely manifest towards the tail end of the cycle. However, by that point, it may be too little or too late.

According to Pizzino, BTC has experienced a remarkable 68% surge from its late 2022 low. Further highlighting its robustness, he noted that BTC had demonstrated greater stability than other cryptocurrencies, with a comparatively smaller drop in value. Impressively, BTC maintains its position above the crucial resistance level of $25,200.

If BTC breaches the resistance level mentioned earlier, it could find solace in the support offered around the $23,000 mark. The expert noted that predicting whether BTC will establish a macro higher low is a challenging task, given the current short-term downtrend in the market.

Expanding on the performance of XRP, Pizzino notes that the cryptocurrency has been exhibiting a pattern of higher lows. While it did experience a dip below the trend line and touched the 0.5 Fib retracement level, it quickly rebounded and is currently ascending along the trend line. Based on this analysis, the expert predicts that XRP can surpass the $0.54 and $0.55 thresholds, potentially breaking through the formidable resistance at $0.58.

Regarding Ethereum, Pizzino noted that it had maintained its form over a longer period, despite experiencing some erratic fluctuations in the short term. Additionally, he suggested that there could be a potential price surge around the $1750 mark, provided that the current support continues to bolster XRP. Similarly, Pizzino conducted a thorough analysis of Solana, Cardano, Polygon, Gala, Render, and Pepe’s market behavior in the video, presenting a comprehensive and professional assessment.