Crypto Analyst Justin Bennett Predicts Imminent Bitcoin (BTC) and Crypto Bounce – Here’s Why
A leading crypto trader says Bitcoin (BTC), Ethereum (ETH) and other top digital assets are showing signs of continued near-term growth.
Cryptanalyst Justin Bennett says his 107,300 Twitter followers expect volatility today due to non-farm payrolls, a measure of the strength of the US economy excluding owners, private household employees, unpaid volunteers, farm workers and the unincorporated self-employed.
“BTC is showing some signs of life. Same from ETH and others.
But remember, Friday is non-farm payrolls, so expect volatility at 8:30am EST.”
Yesterday, the analyst proposed that BTC was already on the rise.
“Regardless of what happens in the short term, I think the writing is on the wall for BTC.”
Then, this morning, with BTC trading at $20,294, apparently Bennett confirmed his bullish hypothesis.
“Good morning fam.
BTC looks poised for $21,400.”
Bennett then looks at the S&P 500, a stock market index that tracks 500 publicly traded US-based companies. The merchant mean S&P’s current moves spell short-term success for Bitcoin, Ethereum and other top crypto projects.
“For a recovery from the S&P 500 right from 3900 support.
A beautiful bullish hammer/stick bar as well.
Maybe back to 4100 resistance from here, which will pull crypto higher in the short term.”
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Featured image: Shutterstock/DM7/phanurak rubpol
