Popular crypto analyst Jason Pizzino is unveiling a realistic timeframe for when Bitcoin (BTC) can surge to a new all-time high.
In a new strategy session, Pizzino tells his 259,000 YouTube subscribers that while Bitcoin is going through a solid bounce from its 90-day low of $32,990, he sees a lot of resistance ahead for the flagship cryptocurrency.
“That’s our major level, as well – $36,000 is the game where it seems like a lot of the whales are playing between those levels: $36,000 and currently the $38,000, getting rejected. So if we get above the $38,000 or this top here around $39,000, there’s a lot of resistance above. There’s pretty much every single thousand dollar level now on the way up, there’s going to be some sort of support and resistance.
You can see the major low here that was on the 10th of January, so basically just for this turning point, that low came in at about $40,000. Then you can look a little further up. You’ve got $42,000, and then you have the tops at $44,000. So, it’s going to be a difficult game getting out of these lows.”
In the short to medium term, Pizzino believes that Bitcoin will likely enter an accumulation period where whales and smart money investors load up on BTC in anticipation of the next leg up. According to the crypto strategist, the accumulation period can sometimes take a year or more.
As Bitcoin faces heavy resistances with the possibility of entering a long consolidation period, Pizzino predicts when BTC could realistically print a new all-time high.
“I don’t think we’re going to see new all-time highs this first half of the year. Maybe late in the second half of this year, but we have a lot of climbing to do.”
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Maquette.pro/mim.girl