According to Jason Pizzino, a popular crypto analyst and trader, if prevailing momentum is sustained, investors should be hopeful of a massive rise in Bitcoin (BTC) price in the coming months.
In a new strategic session with his teeming subscribers on YouTube, Jason Pizzino warned that the key resistance levels would involve much work, but it could lead Bitcoin (BTC) to surge by relatively 64% from its current prices.
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Jason Pizzino noted:
“If we can get above those levels, consolidate and continue to move higher with higher highs and higher lows… the next key level is $48,000 and the $52,000 levels.
But I think we’re getting too far ahead of ourselves to even contemplate getting to the high $40,000s or even low $50,000s at this point as there’s so much work to do for Bitcoin at these lower levels.”
Bitcoin Needs to $32,800 and $34,500 Resistance Levels
According to the analyst, Bitcoin needs to overcome the first two resistances, which are $32,800 and $34,500, respectively. At the time of writing, BTC is trading at $29,993, with a relatively 3% price downtrend in the last 24 hours.
He also pointed out that Bitcoin’s third resistance zone is situated around the $38,000 price.
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Jason Pizzino added:
“The 50 [Fibonacci retracement level] which is just above that is $32,700. So for a round number above that $32,800. So that’s our first level: $32,800… The next level is the most critical level. So $34,500… that’s our major 50 [Fibonacci retracement] level from the all-time high [of $69,044] to zero… so far we have $32,800 and we have $34,500.
“It’s about $37,500 and for a round number above that could say around $38,000. So the three levels we’re looking at now: first one we need to overcome is around that $32,800. Then there is $34,500. Then we’d be looking to around the $38,000.”
“If we can overcome all of these [resistance levels] sooner rather than later, then we start to climb back above those levels to consolidate above the $38,000 level and work our way higher.”
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