Cryptocurrency analyst Jason Pizzino has identified a key resistance level that Bitcoin (BTC) must clear to potentially trigger a significant rally. In a new video for his 333,000 YouTube subscribers, Pizzino explains that if Bitcoin rises by about 6% from its current price, it could pave the way for a broader bullish move.
“If we start seeing tests and closes above $58,000 in the short term, this could signal an early bounce, leading to a test of the more critical level around $61,500, which marks the 50% correction from March to August,” Pizzino says. “Overcoming and consolidating above this level would be crucial for Bitcoin to enter the next phase of the bull run, setting the stage for new all-time highs.”
According to Jason Pizzino’s analysis on YouTube, Bitcoin could drop more than 15% from its current level without negating the overall bullish outlook.“Bitcoin remains above the key levels of $52,000 to $53,000, with the August low of $49,000 still holding. Even if Bitcoin dips further, it would still be in a macro bull market as long as it stays above the mid-$40,000s,” Pizzino explains. “A recovery and close above $61,500 from that point would reignite the upward momentum, pushing Bitcoin back on track for further gains.”