Popular crypto analyst Jason Pizzino on the ongoing bull market cycle Bitcoin He updated his views on the price progress. The analyst stated that he is closely following the developments that could enable BTC to reach a six-digit value.
“I’m looking at some price targets. $72,500, if we pass this we will approach the all-time high of $74,000. My next two targets are $78,500. This is based on the level here. We have an extension tool from weekly volatility, so from the low to the top of the ETF, it’s mirrored from the current low and 50% comes to $78,400. Now 100% is around $81,000.
This $81,000 comes from the entire previous bull market move from the low of $3,000 to the high of $69,000 and is projected from the low here around $15,500… That’s why we see a level of roughly $78,000 to $82,000 here. It may go up a little more, it doesn’t matter. “That’s more or less the price range we’re looking at for the next move.”
Looking at its current chart, Jason Pizzino stated that if Bitcoin can turn $82,000 into support, the next upside targets are $87,000, $96,000 and $113,600. The trader also believes that BTC’s rise to the $78,000 level could ignite altcoins, resulting in huge gains.
“For Bitcoin to move above $78,000 and start consolidating above $82,000, it needs to have the potential to reach those higher numbers, $90,000, $100,000. This is because if it is stopped at this level, at $78,400, it would represent 50% of the weekly range.
We obviously have plenty of time to get out of here. There is still about an 11% time to reach $78,000. Meanwhile, the altcoin season may also revive.”
