Crypto analyst Jason Pizzino is predicting when Bitcoin (BTC) could take off soaring to a new all-time high (ATH).
In a new strategy session, Pizzino tells his 290,000 YouTube subscribers that as early as late next year BTC may begin a bull market cycle, taking the king crypto beyond the current ATH of about $69,000.
“We still have a fair bit of time left before we start to head into new all-time highs, which we’re expecting probably late 2024, at least for BTC. You could possibly say early 2025. But probably sometime second half of 2024 has been what we’ve been saying over and over again.”
The trader also says he is closely watching Bitcoin’s price action in the short term relative to several key levels to determine the market cycle bottom.
“Now, short-term stuff. Bitcoin needs to get back above $27,300 because that’s the 50% level here for this last move up. That’s the short-term target for the bulls to consolidate to at least test $28,400 again.
If Bitcoin cannot get above that level and consolidate then this is likely another move to the downside to test $26,000 again. A break of $26,000 is likely then a test of $24,900 and our major 50% level here is at $23,600.
So keep in mind these next few targets especially if Bitcoin is unable to get back above $27,300. That’s your number to keep in mind. Still a few levels off. So let’s keep that in the back of our minds while Bitcoin goes on the testing of these shorter-term timeframes.”
Bitcoin is trading for $26,823 at time of writing.
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