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‘Game Over’ for Bitcoin if BTC Dives Below Critical Support Level, Says Jason Pizzino – Here Are His Targets

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Cryptocurrency analyst Jason Pizzino is warning that Bitcoin (BTC) is vulnerable to falling even additional if a significant help degree crumbles.

In a brand new video, Pizzino tells his 330,000 YouTube subscribers that the Bitcoin help degree at round $44,600 should maintain to keep away from a collapse that might see the flagship crypto asset revisiting costs final recorded in early 2023.

“Any closes beneath $44,600 might be going to be getting very near a curse. And that curse is principally costs beneath $40,000…

When it goes beneath $40,000, when you get [monthly] closes beneath there, longer-term closes like your longer-term time frames, the pattern is principally damaged. That’s it. Recreation over.

And if it goes to $40,000 and closes beneath there, not a assure however a a lot increased likelihood that this cycle is over. And it’s going to go decrease, it’ll go down and take a look at the $30,000s and take a look at the $20,000s.”

Supply: Jason Pizzino/YouTube

In keeping with Pizzino, Bitcoin may nonetheless resume an uptrend if it manages to remain above the bull market help degree. He shares a chart suggesting that BTC might transfer again above $60,000 by November of this yr.

“What I’m snug with into this kind of low to mid-$50,000s is [Bitcoin is] nonetheless above my bull market help [at around $49,243]. Subsequently, it nonetheless has an opportunity to proceed increased. It will simply imply the grind out may take slightly longer than what we had initially anticipated.”

Supply: Jason Pizzino/YouTube

Bitcoin is buying and selling at $56,306 at time of writing.

Generated Picture: Midjourney

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