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Analyst Forecasts Potential Peak for Bitcoin in Near Future

Price predictions in the crypto world often come with uncertainty, but one analyst suggests a looming pullback based on the sustained climb of the Crypto Fear & Greed Index, indicating an extended run of market sentiment.

Jason Pizzino, a prominent crypto analyst on YouTube, highlights the index’s prolonged rise into greed levels, marking the lengthiest surge in comparison to past market cycles.

Pizzino outlines his case for Bitcoin’s potential peak in this cycle, anticipating a culmination this month or possibly in January. He envisions a market slowdown leading into the halving, foreseeing a moment where the market pauses or tests fear levels again.

“The sentiment can’t run up forever like this. So I suspect there’s got to be some sort of time where the market pauses and potentially tests the fear in the market again,” explains Jason Pizzino.

Beyond sentiment, Pizzino points out Bitcoin’s struggle to decisively breach the $45,000-$48,000 resistance zone despite repeated attempts in recent weeks. This challenge in surpassing these levels suggests limited upside for new highs, according to the analyst.

“Nothing has really changed here that makes me think that this market is about to go and shoot up and test fresh highs,” Pizzino emphasizes.

Backing his perspective with technical analysis, Pizzino notes signs of fatigue in alternative cryptocurrencies like Solana (SOL) after prolonged rallies. While acknowledging the possibility of one final push for new highs in December or January, Pizzino advises caution and risk management for traders, particularly in the current market scenario.

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