Saturday, September 23, 2023
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Top Analyst Says Breakout Rallies for Bitcoin and Ethereum Will Leave Bears in Disbelief – Here Are His Targets

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.”

sauce: Justin Bennett/Twitter

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.”

sauce: Justin Bennett/Twitter

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.”

sauce: Justin Bennett/Twitter

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. ”

sauce: Justin Bennett/Twitter

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.

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Featured Image: Shutterstock/klyaksun

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