Popular crypto analyst Jason Pizzinoshared a scenario where Bitcoin (BTC) can reach an all-time high and the time frame in which this scenario can happen.
Sharing his predictions and analysis in a new video he published on his YouTube channel, Pizzino said, Bitcoin (BTC), rebounding strongly from the 90-day low of $32,990, noting that there is a lot of resistance ahead for BTC.
“The $36,000 level is our main tier, but it can also be seen that most of the whales are in the game at these levels. In addition to this level, the $38,000 resistance level is frequently rejected (BTC has now managed to break this level and is trading at $38,500).
If there is a close above this level or the highest point that can be reached after these levels is $ 39,000, it means there is a lot of resistance ahead. Right now, there is an increase in almost every thousand dollar level and these levels will be support and resistance.
Here you can see the low that happened on Jan. 10, so basically just for this milestone, this low has come down to about $40,000. Then we can look a little higher. You have $42,000 and then the highest is at $44,000. So it will be a difficult game to come out of these bottoms.”
Sharing his views for the short and medium term, Pizzino believes that Bitcoin will enter a period of accumulation where whales and smart money investors are loading BTC, possibly in anticipation of the next rise. According to Pizzino, the accumulation period can sometimes take a year or more.
With Bitcoin facing heavy resistance with the possibility of entering a prolonged period of consolidation, Pizzino predicts when BTC can realistically hit its all-time high.
“I don’t think we will see all-time highs in the first half of the year. It may be late in the second half of this year, but we still have a lot of climbing to do.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.