Crypto analyst Jason Pizzino thinks Bitcoin might be about to make a big comeback. He’s predicting a massive bullish reversal that could send the price of Bitcoin soaring in the coming months.
A Bullish Signal on the Monthly Chart
Pizzino, who has a large following on YouTube, is seeing some promising signs on the monthly chart. He believes that if Bitcoin closes above $62,700 by the end of July, it could trigger a significant reversal. This could mean a change in the trend, with the previous resistance level potentially becoming a support level.
Elliott Wave Theory Points to a Cycle Top
Pizzino also uses Elliott Wave theory, which analyzes market movements based on crowd psychology, to support his prediction. He believes that the total cryptocurrency market cap is currently in the fourth wave of a five-wave pattern. This means that the market is currently correcting, but the fifth wave could see the total market cap reach a cycle top of over $4.4 trillion by April 2025.
Bitcoin on the Rise
Bitcoin is currently trading at around $64,744, up by about 4.63% in the last 24 hours. This price action could be a sign that the market is starting to recover.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions. /p>
