Crypto analyst Jason Pizzino says that the Bitcoin (BTC) bull market is well underway despite the crypto king’s recent price stagnation.
In a new strategy session, Pizzino tells his 290,000 YouTube subscribers that he believes Bitcoin’s bull market cycle began forming around January and is continuing to take shape.
“This is the beginning of a bull market just like it happened the previous cycle and the previous cycle before that. The beginnings aren’t always as clear. They cannot be as clear.
Once things become clear, that’s the end. That’s when retail is in. That’s when everyone else is excited to get into the market because everyone else sees the same thing.”
According to the trader, Bitcoin will more convincingly confirm the bull market cycle if it crosses the key $28,500 level.
“This market has barely spent any time under $25,000. I’m not saying it can’t spend some more time, but it’s been six months above these levels of weekly closes. Pretty good so far, but the bulls aren’t there yet. They need to see at least some closes start above $26,550. So I’m not trying to toot the horn here too much.
There’s still a lot for the bulls to do. I can start to toot it when we get back above the white line here at $28,500. That’s pretty much one of those key levels for Bitcoin to start to consolidate above and put in those continued higher lows to then look to attempt to break $32,000.”
Bitcoin is trading for $26,642 at time of writing, up 0.4% in the last 24 hours.
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