In a strategy session on YouTube, Pizzino told his teeming subscribers that based on the market-value-to-realized-value (MVRV) ratio, Bitcoin likely has only a few months left in the current bear accumulation zone.

Read Also: Michael Saylor Reveals Why MicroStrategy Sold $11 Million Worth of Bitcoin on December 22

Jason Pizzino noted:

“We may only have five months left of Bitcoin being underneath this [MVRV accumulation] zone which in the past has called for some pretty good buy opportunities before the market starts to accumulate at higher prices, like it did in 2015 and again in 2019 and 2020 and then go on to those next bull markets.

“It can be easy for many investors to be left behind because they’re expecting lower and lower prices. But a lot of the data is showing that if we haven’t hit that exact price bottom on Bitcoin, we’re probably somewhere around it.”

It’s worth noting that when MVRV values are below 1, it suggests severe market capitulation and that accumulation is underway. At the time of writing, the MVRV ratio is below 0.85.

Read Also: Billionaire Mark Cuban States the Condition That Can Make Him Buy More Bitcoin (BTC)

The analyst also stated that the flagship cryptocurrency could bottom out between $13,000 and $14,000 prices if resistance at the $18,500 level is strong.

“We want to see whether Bitcoin is going to test those upper prices, first hit that $18,500, that’s going to be a key level. I think if we break that then we’ll probably put in a higher low around that March-April period.

“But if we don’t, if we’re unable to get past that $18,500, then we’ll probably put in some sort of lower low.

“How far down? That is anyone’s guess. But if we’re using some of the probabilities and looking back on the chart, looking at history, then we would have to say that it’s going to be somewhere around that $13,000 to $14,000, which has held the market up in the past.” Jason Pizzino added.

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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.

Read Also: Real Vision CEO Raoul Pal: Ethereum Will Likely Outperform Bitcoin in the Long Run

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.

Read Also: Analyst Shares Three Massive Price Targets For Bitcoin (BTC) in the Year 2030

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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The post Analyst Says Bitcoin (BTC) Would Rise Over 60% in Coming Months if Prevailing Momentum Is Sustained appeared first on Times Tabloid.

In a new strategic video, Pizzino told his teeming YouTube subscribers that Cardano (ADA) could be entering the bull territory when it breaches the $1.40 price level from a low of $1.07.

Read Also: Tech Giant Samsung Gets New Exposure to Cardano Blockchain via a New Partnership

The trader said he anticipates above $1.60 for ADA, but warns that the cryptocurrency could experience short-term dips along the path to the top.

Jason Pizzino noted:

“This is the area that we want to see ADA reach to match the previous ‘up’ range. It’s basically looking at cogs in a market. 

“We want to see the market at least get to or extend the up ranges that it has done in the downtrend so that you can get an idea of what the smart money is doing.

“You can see that more people be buying, the ranges are increasing, therefore you could almost assume or you can assume that the market should be going up from that point because the strength is coming back into the market.

“You’re getting longer ‘up’ ranges and so that price point for ADA against the US dollar is at about $1.40 now.

Read Also: Cardano Advancement: IOG Is Building Light Wallet for Browsers and Mobile Phones with In-Built Dapp Store

“It’s getting close to our 50% level which is at $1.60 and then the top that was put in before it crashed which is around $1.64.

“There’s a lot of these little levels on the way up which will potentially give little short-term reversals. If that happens, then you can be pretty satisfied that the market is still strong provided the lows don’t break down…

“So, recap on those numbers for ADA, on the US dollar pair, the first level is around $1.40, and then to keep it nice and simple, I want to see it go above $1.60, ideally $1.64.”

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