Bitcoin (BTC) is in the midst of an ongoing bull market cycle, and renowned crypto analyst Jason Pizzino has shared his latest views on the largest cryptocurrency’s potential trajectory. With a large following on YouTube, Pizzino focused on fundamental price targets that could take Bitcoin to six-figure levels in his latest analysis. In his most recent video update, he examined critical levels to watch and the potential implications of surpassing these levels for altcoins.
Bitcoin’s Critical Price Levels Highlighted
Jason Pizzino outlined a series of price targets for Bitcoin, starting at $72,500 and extending up to $78,500, emphasizing the significance of surpassing the all-time high of $73,750. Utilizing technical analysis tools like the Fibonacci extension tool on the weekly price chart, Pizzino identified potential levels based on past price movements.
The analyst pointed to $78,400 as a significant threshold and noted that the $81,000 level represents the entire movement from the previous bull market’s bottom of $3,000 to the peak of $69,000. According to Pizzino’s analysis, if Bitcoin manages to find support above $82,000, it could unlock further upward targets, including $87,000, $96,000, and an ambitious $113,600.
Pointing to That Level for Altcoins
Pizzino stressed the importance of Bitcoin consolidating above key levels to maintain upward momentum and potentially trigger significant gains in altcoins. The analyst suggested that a rise towards the $78,000 level could initiate an altcoin season and lead to significant market-wide movements beyond Bitcoin.
While Bitcoin has seen a slight increase of just over 1% in the last 24 hours, trading above $70,000, Pizzino remains optimistic about the largest cryptocurrency‘s potential for further growth. He indicates that Bitcoin’s ability to break through critical resistance levels will determine its trajectory in the short and medium term. The analyst emphasizes the need for investors to be cautious and patient, highlighting the potential for high volatility as Bitcoin navigates key price levels.
