Cryptocurrency

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-significant-price-surge/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Significant Price Surge</a> 
Cryptocurrency analyst and trader Jason Pizzino stated that <a href="https://en.coin-turk.com/bitcoins-prediction-of-one-million-dollars-famous-figures-comments-on-btc-and-war/" data-wpel-link="internal">Bitcoin</a> (BTC) is on the verge of a significant rise and expects it to potentially reach a new all-time high in six figures. The analyst also highlighted important thresholds for the largest cryptocurrency. 
<h2 style="text-align: justify" id="strong-consolidation-and-breakout-analysis-for-bitcoin-strong">Consolidation and Breakout Analysis for Bitcoin</h2> 
Sharing his latest market observations with his YouTube channel subscribers, Pizzino began by explaining that the current <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">bull market</a> of Bitcoin is currently consolidating below the critical resistance around $69,000. According to him, this consolidation period is a precursor to a significant breakout. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-352899" src="https://coin-turk.com/wp-content/uploads/2024/05/Bitcoin-Yorum-Analiz.png" alt="" width="1067" height="695"> 
The analyst emphasized that it is only a matter of time before Bitcoin exits its current consolidation phase, makes a significant breakout, and potentially doubles its current price levels. Using the Fibonacci extension tool to predict Bitcoin’s next major <a></a> price targets, the analyst indicated that the largest cryptocurrency is moving within an upward trajectory. 
<h2 style="text-align: justify" id="strong-shared-the-next-upward-target-level-strong">Shared the Next Upward Target Level</h2> 
Pizzino’s analysis points to an important price target of $135,000 for Bitcoin. The analyst noted that if BTC repeats its previous price movement from $3,000 to $68,000, the next logical move would be to rise from $65,000 to $135,000. This target is based on the Fibonacci extension tool, easy round numbers, and mathematical projections. 
The analyst emphasized that $100,000 would be a significant psychological level for Bitcoin and likely a threshold where major interest and celebration would erupt within the cryptocurrency world. Beyond this milestone, Pizzino highlighted $115,000 to $120,000 as particularly interesting price levels. Overall, the analyst’s focus was on the region between $130,000 and $150,000, where he expects significant market movement and potential correction. 
Pizzino stressed the importance of observing changes in Bitcoin’s price movements as it approaches these key price levels. The analyst stated that the market will face sharp rises and corrections throughout this upward journey, making the path to $135,000 and beyond particularly intriguing. These fluctuations will be critical to understanding Bitcoin’s overall trajectory in the bull market cycle. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-significant-price-surge/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Significant Price Surge</a></h5>

Analyst Predicts Bitcoin’s Significant Price Surge

Table of Contents

COINTURK NEWS

Other articles published on May 18, 2024

Magic Square Launches Magic Launchpad: New Fundraising and Community Growth Platform

MOOCAT | MooCat is a cat… that moos. Let’s be friends. | 0 Tax | LP burnt | Easy 100x | Huge Comm...

Analysts Agree: Solana’s Tapswap Project Is Poised to Surpass Telegram’s Notcoin (NOT) Success – ...

These 3 Coins Are In The Lead For Massive Gains As The Bull Run Approaches

Ripple Reveals Impressive Q1 XRP Growth in New Report

AI safety researchers leave OpenAI over prioritization concerns

Join our free newsletter for daily crypto updates!