The popular analyst shared the possible scenario for the cryptocurrency markets. These levels are extremely critical and altcoins could have a serious recovery opportunity.

Sharing his expectations about Bitcoin, Jason Pizzino points out that the current levels are extremely cheap. He announced his expectation of a potential rally as 64%.

Jason Pizzino thinks the biggest cryptocurrency can hold higher. While warning that it will take “a lot of work,” Pizzino tells his 250,000+ YouTube subscribers that Bitcoin could rise about 64% from the current price once it overcomes key resistance levels.

pizzino

   “There is a lot of work to be done for Bitcoin at these lows. If it can hold above key resistance zones, we could hit a target in the $48,000 to $52,000 range.”

The crypto analyst says that the first two levels of resistance that Bitcoin must overcome are $32,800 and $34,500, respectively.

   "The 50 [Fibonacci retracement level] just above this is $32,700. The first target is to see closes above this level."

graph-10

Pizzino says that the third resistance zone of Bitcoin is around $38,000. The first level is 32,800 and then $34,500 needs to be broken. The final target will be the $38,000 level above $37,500. The crypto analyst said that Bitcoin will rise even higher after consolidating above the $38,000 price. In this scenario, altcoins, many of which see 12-month lows, can seize very serious rally opportunities.

   “If we can overcome all these resistance levels sooner or later, then we can start climbing above these levels to consolidate above the $38,000 level and push our target higher.”

Bitcoin price is $30,149 at the time of writing, while the last 24-hour trading volume of BTC is $29,011,408,999. Bitcoin (BTC) price is down -0.3% in the last 24 hours.