Cryptocurrency analyst Jason Pizzino warns that Bitcoin (BTC) could face a major downturn if it falls below a crucial support level around $44,600. He states that a break below this level could push Bitcoin down to test $40,000 and potentially even lower, possibly reaching the $30,000s and $20,000s. If Bitcoin closes below $40,000, Pizzino believes the current bull market cycle might be over. However, he also suggests that Bitcoin could still resume an uptrend if it manages to stay above the bull market support level, potentially reaching $60,000 by November.
The Daily Hodl•1 year ago•
1030
Bitcoin at Risk of 'Game Over' if Support Crumbles, Analyst Warns
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Summary:
Bitcoin (BTC) is at risk of falling further if a major support level at $44,600 breaks.
A break below $40,000 could signal the end of the current bull market cycle, leading to further declines toward the $30,000s and $20,000s.
However, Bitcoin could still rise to $60,000 by November if it stays above the bull market support level.
Analyst Jason Pizzino suggests Bitcoin is still in a bullish trend if it remains above $49,243.
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