Bitcoin
Bitcoin’s bull cycle isn’t over by any stretch of the imagination, says analyst Jason Pizzino – Here are his targets
Analyst and trader Jason Pizzino believes that Bitcoin (Bitcoin) is gearing up for a big move higher towards new all-time highs.
Pizzano it says its 326,000 YouTube subscribers that the Bitcoin bull market is barely breathing as it consolidates below its immediate resistance at around $69,000.
According to the analyst, it is only a matter of time before BTC breaks out of consolidation and prints gains of around 100% compared to current levels. The trader uses the Fibonacci extension tool to identify his large BTC price target.
“I don’t believe the cycle is over, so I’m just going to look at the positive goals.
And the first one costs US$135 thousand. We’ll just use some easy round numbers here. Now, if you were to do this specific movement twice [$3,000 to $68,000], so that range for quick math is about $65,000. So you’re only projecting $65,000 off the top, which equates to about $135,000.”
Source: Jason Pizzino/X
Bitcoin is trading at $66,988 at the time of writing, an increase of over 2.50% in the last 24 hours.
The widely followed analyst also says there are other “interesting” price levels he will be keeping an eye on before Bitcoin can potentially double from its current point.
“Obviously, $100,000 is going to be a number that everyone is looking at, a little bit on a psychological level. Probably big parties going on there, ‘Bitcoin at $100,000’, all that kind of jazz.
And then the next two – these other ones are between $115,000, $120,000, but I’m interested here now, about $130,000 to $150,000. What happens to Bitcoin at that time? And beyond that, what happens if we achieve some other type of recovery and correction?…
That will be the next interesting point when it comes to projecting these price targets for the end of the cycle.”
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