Bitcoin Primed for a Push to Fresh All-Time High if This Happens, According to Crypto Analyst Jason Pizzino

Cryptocurrency analyst and investor Jason Pizzino highlights a important resistance stage that Bitcoin (BTC) should overcome to doubtlessly spark a rally.

Pizzino tells its 333,000 YouTube subscribers in a brand new video that if Bitcoin rises in worth by about 6% from present ranges, the flagship crypto asset may create situations for an even bigger bullish transfer.

“Offered we begin to see some exams and shut above $58,000 within the close to time period, this might be a pleasant, early bounce to check the important thing stage in my evaluation round $61,500, which is the 50% correction from March reduce within the center by means of August.

That’s the subsequent main stage the place Bitcoin can take a look at, overcome and consolidate, for primarily the subsequent section of the bull, which can push new, new all-time highs.”

In response to Pizzino, Bitcoin may nonetheless fall greater than 15% from present ranges with out debunking the bullish thesis.

“[Bitcoin] nonetheless above about $52,000, $53,000 and the August low at $49,000 nonetheless intact right here. We’ve got checked out earlier ranges negatively. If it have been to fall once more, it will nonetheless stay in a macro bull market if the value have been to maneuver all the way in which again to the mid-$40,000s. And from that time on, an in depth above $61,500 would put this present again on monitor.”

Bitcoin is buying and selling at $57,870 on the time of writing.

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