A closely followed crypto strategist and trader predicts a Bitcoin rally (Bitcoin) and Ethereum (ethereum) what he says will leave naysayers in disbelief.
Analyst Justin Bennett has told his 109,800 Twitter followers that Bitcoin has broken above the diagonal resistance, the trendline that has kept the market bearish since November 2021.
“BTC reversed today from a linear trendline from all-time highs.”
Bennett said that with the diagonal resistance removed, Bitcoin is poised for a nearly 40% rally to its target of around $27,000.
“it’s over.”
An analyst is looking at an inverted price chart for BTC. This is what traders do from time to time to see if the bias still holds from another perspective. Based on Bennett’s chart, he predicts Bitcoin will hit his target by December 2022.
In the short term, however, crypto strategists say Bitcoin could still fall below $19,000 before it starts to rise.
“There is a liquidity gap at $18,500. The market is still flat and there is a low wick that needs to be met going into the weekend, not to mention a deviation above $19,540.”
As of this writing, Bitcoin is trading at $19,134, flat for the day.
Bennett says ETH looks bullish after seeing leading smart contract platform Ethereum and recovering key support levels.
“What a bullish recovery from ETH.
endure disbelief. send it. ”
Based on the analyst’s charts, he appears to be predicting ETH to surge to $1,480 in the next few days. At the time of writing, Ethereum is worth his $1,281, down 1.62% in the last 24 hours.
Don’t miss the beat – apply To get encrypted email alerts delivered directly to your inbox
check price action
Please follow us twitter, Facebook When telegram
surfing The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/klyaksun
