Dont Count On Bitcoin

Don’t Count on Bitcoin (BTC) Crashing to $10,000, Says Crypto Analyst Jason Pizzino – Here’s Why

A popular crypto strategist and trader says Bitcoin (BTC) price is unlikely to drop to $10,000.

In a new strategy session, analyst Jason Pizzino tells his 279,000 YouTube subscribers that Bitcoin bulls are likely to defend a high timeframe support level and keep it away from dropping to $10,000.

“There’s a pretty reasonable chance we won’t see the $10,000 I’ve been talking about for some time in the futures market. You got a good number here of $14,900 on the spot market for the cycle low so far. It’s about $15,500, depending on which scholarship you’re on.”

He says that if the price trends higher, Bitcoin could quickly wipe out the losses incurred since the FTX crash.

“If we get above $18,500 or $18,600, that would be a very strong sign that it was just a shakeout, a big washout, and we’ll over the weeks, over the course of November, maybe try to get some more to recover some. of those losses and go back to $20,000. That doesn’t mean we can’t close above that $18,500, come back, post a higher low over the weeks, it will take time. In that case, it’s a strong sign that we’re likely to come back and test some higher prices.”

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Source: Jason Pizzino / YouTube

But he also says that if Bitcoin’s price weakens and begins to regularly close below $17,500, the price could drop to a lower support level.

“Should we continue to decline during November, well, then we’ve got prices as far below about $13,500, which is relatively well aligned with the previous old cycle tops of the period in 2019.”

At the time of writing, Bitcoin is changing hands for $16,858, down 1.78% on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/NextMarsMedia

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