Closely followed crypto analyst Jason Pizzino suggests that Bitcoin (BTC) 
$89,438 might exit its current consolidation phase within a few weeks. In a new video update for his 333,000 YouTube subscribers, Pizzino states that Bitcoin could display an upward trend on the monthly chart as September concludes.
Previous Cycles and Upward Signals
Pizzino examines previous cycle lows and the months it took for Bitcoin to signal the beginning of parabolic rallies. Historically, these periods lasted 20, 21, and 19 months. He notes that if prices remain above August levels in September, this period will extend to 22 months. Should Bitcoin close September above the $66,000-$67,000 range, this could mark the start of significant movement.
The Second and Final Move
Based on historical data, the analyst asserts that a “final” move following the initial rise confirms an upward trend and signals the approach of a parabolic rally. In previous cycles, this occurred in the 22nd, 27th, and 28th months. Currently, Pizzino points out, we are in the 22nd month, with the 27th month aligning with February and the 28th month with March.
Bitcoin’s Current Price
During Pizzino’s assessment, Bitcoin was trading at $57,001, marking a 3% increase in the last 24 hours. He notes that these price movements align with historical trends and could be a potential breakout signal.
The analyst highlights that in previous cycles, Bitcoin surpassed certain resistance levels, initiating a new upward trend. He suggests that this movement might occur after a longer consolidation period this time, indicating a more significant price surge.
In conclusion, the closing of September and the subsequent months’ price actions could signal a potential parabolic rise for Bitcoin. However, Pizzino stresses the importance of caution, given the market’s complexity and volatility.
