Jason Pizzino, a cryptocurrency analyst and investor, has highlighted a crucial resistance level Bitcoin (BTC), must overcome in order to kick-start a rally.
Pizzino told his 333,000 YouTube followers in a recent video that Bitcoin could be set to move higher if it appreciated by 6%.
“That’s where Bitcoin will test, surpass and consolidate to enter the next stage of the bull. Pushing into fresh new all-time prices.”
Pizzino believes that Bitcoin’s current price could fall over 15% without invalidating Pizzino’s bullish thesis.
The August low of $49,000 and $52,000 are still in place. If this came back down to mid-$40,000s, it would remain in macro-bull market. From that point on, a close back over $61,500 will start this show moving to the upside .”
Bitcoin currently trades at $57,870.
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Sources of Images include Pixabay Creative Commons & Midjourney
The post Bitcoin Ready for an All-New High If This Happens According to Crypto Expert Jason Pizzino could be updated as new information becomes available.
