Jason Pizzino is hierom heel bullish over Bitcoin

Popular analyst Jason Pizzino is bullish on the Bitcoin price. He expects that we will set a new all-time high for the Bitcoin price before the end of this cycle. Unfortunately, we will have to wait a while for that.

Patience for Bitcoin Breakout

According to Pizzino, Bitcoin will remain below its current all-time high for 4 to 6 months before breaking out again. He notes that 4 months have already passed.

“In March it was very unpopular to suggest that we were heading towards a correction, which would potentially last longer than previous corrections. Most people were hoping and looking at Bitcoin prices of $80,000 to $100,000.

I did some analysis on a specific signal in March and came up with the possibility that Bitcoin would stay below its all-time high for 4 to 6 months. We are now one day away from crossing the 4-month mark,” the analyst said.

Now, according to Pizzino, it is patience and waiting until Bitcoin starts to rise again. First past the important resistance at 64,000 dollars and then potentially break out to a new all-time high, is the conclusion of Jason Pizzino.

How did Pizzino arrive at that $64,000?

To predict that Bitcoin has “bottomed out,” Pizzino uses some pretty simple methods. For example, he suggests that the midpoint between the local bottom and the all-time high is around $63,750.

According to him, that is the most important hurdle that Bitcoin must overcome at the moment. “That is where we want to see the price to get confirmation that the lowest point is now behind us.

“We need to hold above that level to consolidate before we can move further up to test the $74,000 high,” Pizzino continued.

Bitcoin is trading at $57,150 at the time of writing, down -0.35% over the past 24 hours.

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