[Analyst Jason Pizzino said that the Bitcoin bull market cycle is not over yet]
Analyst and trader Jason Pizzino believes Bitcoin (BTC) is gearing up for a major rally, targeting new highs.
Pizzino told his 326,000 YouTube subscribers that the Bitcoin bull market is currently consolidating with immediate resistance around $69,000.
He noted that it is only a matter of time before Bitcoin breaks out of the consolidation and rises about 100% from current levels. He uses the Fibonacci extension tool to identify large price targets for Bitcoin.
"I don't think the cycle is over, so I would look at the upside.
The first goal was 135,000. We're just using some simple integers here. Now, if it's going to do twice as much as this particular action "30,000 to 68,000," quick math for that range is about 65,000. So you're just predicting 65,000 at the top, which is probably 135,000. "
The well-known analyst also said that he would be on the lookout for other “interesting” price levels before Bitcoin could double from its current levels.
“Obviously, 100,000 is a number that everyone pays attention to, it’s a psychological level. A ‘Bitcoin to 100,000’ party might happen.
And then the next one between those two is 115,000, 120,000, but I'm interested in 130,000 to 150,000 right now. What will happen to Bitcoin then? What happens if we get some other build-up and correction?
#鴉快訊 $BTC
Analyst and trader Jason Pizzino believes Bitcoin (BTC) is gearing up for a major rally, targeting new highs.
Pizzino told his 326,000 YouTube subscribers that the Bitcoin bull market is currently consolidating with immediate resistance around $69,000.
He noted that it is only a matter of time before Bitcoin breaks out of the consolidation and rises about 100% from current levels. He uses the Fibonacci extension tool to identify large price targets for Bitcoin.
"I don't think the cycle is over, so I would look at the upside.
The first goal was 135,000. We're just using some simple integers here. Now, if it's going to do twice as much as this particular action "30,000 to 68,000," quick math for that range is about 65,000. So you're just predicting 65,000 at the top, which is probably 135,000. "
The well-known analyst also said that he would be on the lookout for other “interesting” price levels before Bitcoin could double from its current levels.
“Obviously, 100,000 is a number that everyone pays attention to, it’s a psychological level. A ‘Bitcoin to 100,000’ party might happen.
And then the next one between those two is 115,000, 120,000, but I'm interested in 130,000 to 150,000 right now. What will happen to Bitcoin then? What happens if we get some other build-up and correction?
#鴉快訊 $BTC