Crypto Analyst Forecasts Bitcoin Breakout Before Year-End
06.07.2024 11:30 1 min. read Alexander Stefanov
Jason Pizzino, a prominent crypto strategist, anticipates Bitcoin (BTC) is currently consolidating in preparation for a significant rally by the year's end.
Pizzino suggests that while Bitcoin could dip to around $44,000, such corrections are historically followed by bullish trends.
Reflecting on past price behaviors, Pizzino speculates that the market’s emotional turmoil will subside, potentially paving the way for a swift rebound or gradual recovery to higher price levels.
Drawing parallels from historical monthly chart patterns, including those from 2016, he predicts a breakout could materialize within the next six months.
“This consolidation phase, lasting several months, typically precedes upward momentum,” Pizzino remarked, highlighting patterns that indicate potential market movements ahead.
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