Analyst Justin Bennett Outlines One Scenario Where Bitcoin (BTC) Could Suddenly Skyrocket to $70,000

Bennett tells his 111600 followers on the social media platform X that he can see a technique Bitcoin surges greater than 12% from its present worth

Analyst and dealer Justin Bennett is outlining one state of affairs the place Bitcoin (BTC) could instantly soar to $70,000.

Bennett tells his 111,600 followers on the social media platform X that he can see a technique Bitcoin surges greater than 12% from its present worth with out first dipping beneath $60,000.

“A counterargument to my requires BTC $57,000 earlier than $70,000 is that this four-hour channel. If Bitcoin can reclaim $63,000-$64,000 we are able to begin speaking about sweeping the $69,000-$70,000 shorts. If it might probably’t and these assist ranges begin to fail, $57,000 turns into the goal.”

Bennett warns that Bitcoin’s reclaim of the $62,000 degree Friday after dropping to $60,000 earlier this week could be a “aid rally” earlier than a deeper correction.

“Calling for $70,000 Bitcoin after a 3% Asia session/Friday bounce from $60,000 is pure engagement farming. Both that or these folks aren’t merchants you wish to comply with. The ONLY approach BTC targets $70,000 is on a reclaim of $64,500. Interval. Till then, that is merely a aid rally that’s constructing extra sell-side liquidity at $59,000 and $57,000. Markets search liquidity.”

Analyst Justin Bennett Says Bitcoin Rally Pauses, Outlining Key Ranges to Watch for Subsequent Leg Up

Analyst and dealer Justin Bennett is outlining a state of affairs the place Bitcoin (BTC) could instantly soar to $70,000.

In a brand new replace, the dealer tells his 111,600 followers on the social media platform X that he sees a path for Bitcoin to rally greater than 12% from its present worth with out dipping beneath $60,000.

“A counterargument to my requires BTC $57,000 earlier than $70,000 is that this four-hour channel. If Bitcoin can reclaim $63,000-$64,000 we are able to begin speaking about sweeping the $69,000-$70,000 shorts. If it might probably’t and these assist ranges begin to fail, $57,000 turns into the goal.”

Bennett additionally feedback on Bitcoin’s latest worth motion, suggesting that the rally could quickly pause.

“Each day this week, Bitcoin has pumped as quickly because the US inventory market closed. Both approach, I believe we see $57,000, however some aid to take out the $63,200 shorts could be good.”

At time of writing, Bitcoin is buying and selling for $62,240, up 2.4% within the final 24 hours.

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