Crypto analyst Jason Pizzino Bitcoin He stated that the price points to higher price targets in the short term. The analyst suggested that after BTC reaches the $72,000 level, the target could rise to $81,000 before a correction.
Jason Pizzino explained his prediction by observing that over the last cycle Bitcoin has rallied from a low of around $3,000 to a high of $66,000 to a high of $69,000. This means the price could rise as high as $81,000 with a rally from the current cycle low to $66,000.
“If we get above the $72,000 level, I have a long-term goal and it could take weeks or even months because this goal has been in the making for years,” Pizzino said. This represents the period from the previous cycle’s low to the previous cycle’s high. So, the entire movement from $15,000 to $3,000 to $69,000 targets up to $81,300,” he commented.
The trader also talked about Bitcoin possibly entering a pre-rally accumulation period and three possible levels of possible pullbacks. “I came up with a goal of up to $81,000… Now, let’s take a look at some percentages. 20% would take us back to around $65,000, which would correspond to previous highs. “A 30% pullback would take us back to around $57,000, and a 40% pullback would take us down to around $48,000.”
Bitcoin is currently trading at $70,770 and is down 2% in the last 24 hours.
