Cryptocurrency analyst Jason Pizzino asserts that Bitcoin (BTC) could surge by double-digit percentage points once it rises over a key resistance zone.
In an interview on the David Lin Report, Pizzino says that Bitcoin (BTC) is facing major resistance at betwixt the $28,000 to $32,000 level.
Reports by Pizzino, the flagship cryptocurrency investment could surge by nearly 80 percent from the present price when it breaches the major resistance zone.
“So $28,500 to around $32,000 is going to be a key level for Bitcoin (BTC) to overcome. I suspect when it does, you will start to see less of the bears and more of the bulls.
Basically comments from people saying that this thing must go lower and we’re going to see new cycle lows… That will become less and less once we overcome this key, you know, crossing here betwixt $28,000 and $32,000.
There is just nothing left for them once it overcomes this level. They will be then looking towards $48,000 as the following level. And of course the all-time highs.”
Bitcoin (BTC) is currently worth $26,798 at time of writing.
The cryptocurrency analyst reveals that going forward, Bitcoin (BTC) would have a more sustainable rally if it appreciates in price by small incremental steps rather than huge sudden surges.
“The more we go up in these little stair-stepping movements, the better that is for Bitcoin (BTC) because there is more stability in price at lower levels.
So we get this nice stair-stepping move up rather than this absurd FOMO (fear of missing out) pump that we see in those patterns. These are unsustainable.”
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