Rally

2024

Bitcoin

Resistance

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-potential-rally-after-resistance-breakthrough" rel="noopener noreferrer nofollow">Bitcoin’s Potential Rally After Resistance Breakthrough</a> 
Renowned crypto analyst Jason Pizzino predicts a potential explosive rally for <a href="https://en.bitcoinhaber.net/the-infamous-mt-gox-hack-a-turning-point-in-cryptocurrency-history" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) if it surpasses a significant resistance level. However, he warns of a possible downward trend if Bitcoin fails to break through these barriers.
During a strategy session, Pizzino informed his YouTube subscribers that Bitcoin could ascend only after converting the $49,000 resistance into a support level. He anticipates a clearer market picture by the second half of 2024, expecting a surge in Bitcoin, altcoins, and traditional markets from late 2024 into 2025, which will be a critical time to consider profit-taking strategies.
Pizzino also cautioned that if Bitcoin retreats from its previous two crucial support levels after crossing $40,000, it could significantly drop below its current price levels. He suggests Bitcoin might be trying to find a bottom around $30,000 and could stay under $40,000 for several weeks, with any pullback from around $41,000 or $44,000 potentially triggering a sharp decline.
The analyst notes that even without further declines, Bitcoin could experience sideways movement until March, based on the duration of previous corrections. He references a 21.6% downturn over 12 days and compares it to 60-day corrections in the past, indicating the market’s capacity for extended periods of decline.
Pizzino suggests that if this is the last correction, with Bitcoin’s bottom at $38,500, the price could consolidate at current levels, potentially leading to a sideways trend until just before the block reward halving, after which an upward movement could initiate.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-potential-rally-after-resistance-breakthrough" rel="noopener noreferrer nofollow">Bitcoin’s Potential Rally After Resistance Breakthrough</a></h5>

Bitcoin’s Potential Rally After Resistance Breakthrough

BH NEWS

2024년 1월 26일에 게재된 다른 기사

Hacking with a Twist: Algorand Foundation CEO’s Social Media Compromised

UMA Price Prediction: UMA Pumps 17% As This Under-The-Rader Presale Closes On $7.5 Million

Top New Cryptos Compared: MANTA, WIF, NUGX, MYRO

BNB Coin Price: Will BNB Coin Recover In 2024?

Myro Price Prediction – Will $MYRO Hit $1, or Should Investors Consider This New GameFi Presale w...

Disgraced Crypto Founder Calls Time in Prison an “Enjoyable Experience”

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!