The post ‘Game Over’ for Bitcoin if BTC Dives Below Critical Support Level, Says Jason Pizzino – Here Are His Targets appeared on BitcoinEthereumNews.com.

Cryptocurrency analyst Jason Pizzino is warning that Bitcoin (BTC) is at risk of falling even further if a major support level crumbles. In a new video, Pizzino tells his 330,000 YouTube subscribers that the Bitcoin support level at around $44,600 must hold to avoid a collapse that could see the flagship crypto asset revisiting prices last recorded in early 2023. “Any closes under $44,600 is probably going to be getting very close to a curse. And that curse is basically prices under $40,000… When it goes under $40,000, if you get [monthly] closes under there, longer-term closes like your longer-term time frames, the trend is basically broken. That’s it. Game over. And if it goes to $40,000 and closes under there, not a guarantee but a much higher probability that this cycle is over. And it’s going to go lower, it’ll go down and test the $30,000s and test the $20,000s.” Source: Jason Pizzino/YouTube According to Pizzino, Bitcoin could still resume an uptrend if it manages to stay above the bull market support level. He shares a chart suggesting that BTC may move back above $60,000 by November of this year. “What I’m comfortable with into this sort of low to mid-$50,000s is [Bitcoin is] still above my bull market support [at around $49,243]. Therefore, it still has a chance to continue higher. It would just mean the grind out might take a little longer than what we had originally anticipated.” Source: Jason Pizzino/YouTube Bitcoin is trading at $56,306 at time of writing. Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix &nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due…

---

Filed under: News - @ July 6, 2024 7:16 am