Crypto analyst Jason Pizzino thinks Bitcoin (BTC) is poised for a big jump, but it needs to overcome a key resistance level first.
Bitcoin Needs to Climb to $58,000
Pizzino, who has over 333,000 YouTube subscribers, says if Bitcoin climbs about 6% from its current price, it could set the stage for a much larger rally. He’s looking at $61,500 as the next crucial level.
“If Bitcoin can break through $58,000 and then $61,500, we could see a new bull market pushing it to new all-time highs,” Pizzino said in a recent video.
Bitcoin Still in a Bull Market
Even if Bitcoin dips, Pizzino believes it’s still in a bull market. He says even a drop to the mid-$40,000s wouldn’t invalidate his bullish outlook.
“Bitcoin is still in a good spot,” Pizzino said. “Even if it drops, it’s still in a strong position to rebound.”
Bitcoin is Currently Trading at $57,870
It’s important to remember that this is just one analyst’s opinion. The cryptocurrency market is volatile, and prices can change quickly.
Remember, This is Not Investment Advice
Always do your own research before investing in cryptocurrencies.
