Crypto Analyst Says Bitcoin Bullish Accumulation Is Coming to an End, Reveals April Prediction for BTC
A popular crypto strategist says Bitcoin (BTC) has a major trend reversal on the horizon as we enter a new month.
Analyst Jason Pizzino tells his 283,000 YouTube subscribers that Bitcoin closely follows a Wyckoff accumulation scheme that suggests an asset is laying the groundwork for an incoming bull market.
According to Pizzino, Bitcoin appears to be in the final stages of the accumulation scheme, suggesting that BTC is preparing for the markup phase, or a period of price increases.
“This is the next big piece of the puzzle as we go into phase [E]. I just want a week or two more confirmation on the chart and maybe we can put it to bed and say accumulation has happened for Wyckoff, especially if we cross the 50% mark which is around $42k.
Do I think we will get there tomorrow? No. Let’s keep our horses. We also have yet to test the low-to-mid $30,000s. So it’s coming to an end. He is not here yet.”
Credit: Jason Pizzino/YouTube
Looking ahead to BTC’s potential price action for April, Pizzino says BTC could surge above $30,000 this month. However, he stresses that BTC may struggle to clear the resistance between $32,000 and $34,000.
“March was a phenomenal month going down, making a higher swing bottom and breaking out to the upside which is why I think April could be the month where we see the $30k and low $30k Testing area, so around $32,000, which is previous lows and January 2022 support… That will be a key area.
Then we have the midpoint between the high and the zero, so $69,000 is the top, all the way down to zero. Half costs $34,500. So there is a lot of resistance on the way to that $40,000 level.”
At the time of writing, Bitcoin is trading at $28,476.
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