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Dare to trade. Dare to win.
Analyst Jason Pizzino points out factors that could help Bitcoin reach 180k.
Cryptocurrency analyst and trader Jason Pizzino believes that Bitcoin (BTC) has the potential to increase by about 55% from its current level.
"...According to my theory, we need to see this rate drop to 3.7% in order to witness a real altcoin season and Bitcoin could rise above $150,000 to $180,000.
I believe that while the dominance rate of USDT remains between 3.7% and about 4.8%, it will be difficult for extreme numbers to appear.
As of the time of writing, the dominance rate of USDT is at 4.35%.
"I do not wish to see the market consolidate below $106,000. I think that would indicate weakness in the long term. In the worst-case scenario, the level of $99,000 below $106,000 would become a slow-moving target for the next rally. For optimistic investors, ideally Bitcoin needs to hold above $110,000, or even $111,000."
Therefore, if August continues to perform weakly, I will consider each price level as an indicator to assess the strength of the next move. The price range from $111,000 to $110,000 is considered strong. Below that level, it will be average, and below that again, it will be weak. Below around $99,000... I don't want to go there at this time.
Mr. Teacher