Crypto strategist and trader Jason Pizzino has revealed price targets for Bitcoin (BTC) and two altcoin projects.
During a recent strategy conference, Pizzino informed his 329,000 YouTube subscribers that Bitcoin could soon break through key resistance levels based on the Average True Range (ATR) indicator.
The ATR indicator measures volatility by displaying the trading range of an asset during a specific period.
“You can see here that the average true range bars are gradually disappearing. Look at what happened in the previous cycle. The average true range started to rise, gradually disappeared, gradually disappeared. Then you start to get higher lows, and at that stage, you’re really close to stealth mode.”
Source: Jason Pizzino/YouTube
According to the analyst, Bitcoin has historically been “stealthily moving up” when the ATR indicator reaches local lows and prices continue to consolidate or form higher lows.
The analyst’s primary upside price targets include $63,300 on the daily chart, $65,200 on the weekly chart, and $72,000 on the monthly chart for Bitcoin.
At the time of writing, Bitcoin was trading at $60,176, down nearly 3% in the past 24 hours.
Next, the analyst believes that Solana (SOL), a competitor to Ethereum (ETH), will move towards the top of its current cycle.
“With higher lows, it’s now trying to push the price above $137, more than 50% up. The next target on the weekly chart is $165. Then we move towards $190, $210. So $190 is above those upper targets. And $210 is the highest price for Solana at the moment. So it’s on its way. It hasn’t set those long-term time frames, which are weekly.”
Source: Jason Pizzino/YouTube
At the time of writing, Solana was trading at $141, down over 8% in the past 24 hours.
Lastly, the analyst predicts that Render (RNDR), a blockchain for GPU rendering, will reclaim double-digit value.
“Now, what do we need to see before it gets there? Obviously, higher lows, and that will happen over the next couple of months, possibly even up to four months, because we have the [US presidential] election coming up… If I continue to see higher lows, if it breaks out within that time, that’s not going to stop me from getting into the market.”
Source: Jason Pizzino/YouTube
At the time of writing, Render was trading at $7.04, down 7.7% in the past 24 hours.
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