Bitumen emulsions are commonly used for coatings. You want an emulsion compatible with concrete, which is electro negative.
To do it with cutback bitumen, you need to heat the bitumen till its viscosity is low enough to provide a sensible viscosity for mixing, then add the cutting oil (a light oil - kerosene is used in the road industry). The percentage of cutting oil that you use is dependent on how low you need the viscosity.
can I reduce the visocsity of bitumen if I add the conventional percent% of the cutting oil (a light oil, for example Toluene) without heating? and what's this the conventional percent% to get suitable viscosity to be useful of coating for waterprofing purposes.