Jason Pizzino, a popular crypto analyst and trader, has recently claimed that Bitcoin (BTC), the largest cryptocurrency by market cap, could experience a massive surge once it overcomes a key resistance zone.
In a new interview on the David Lin Report, Pizzino averred that Bitcoin is currently facing major resistance at the $28,000 to $32,000 price range.
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According to the analyst, Bitcoin (BTC) could surge nearly 80% from current prices once it surpasses the major resistance level.
Pizzino added that the flagship crypto would have a more sustainable rally if it appreciates in price by small incremental steps rather than huge sudden surges.
Jason Pizzino noted:
“So $28,500 to around $32,000 is going to be a key level for Bitcoin 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 has to 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 between $28,000 and $32,000.
“There’s just nothing left for them once it overcomes this level. They will be then looking towards $48,000 as the next level. And of course the all-time highs…
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“The more we go up in these little stair-stepping movements, the better that is for Bitcoin because there’s more stability in price at lower levels.
“So we get this nice stair-stepping move up rather than this ridiculous FOMO (fear of missing out) pump that we see in those patterns. These are unsustainable.”
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