Top Crypto Analyst Says Bitcoin (BTC) Facing ‘Moment of Truth’ With Possibility of Rallying Higher
A extensively adopted crypto analyst says that king crypto Bitcoin (BTC) is developing in opposition to a second of reality.
With BTC price $29,188 at time of writing, crypto dealer Justin Bennett tells his 112,300 Twitter followers that BTC can preserve rising as long as it could possibly keep above $28,800.
“BTC is beginning to really feel extra like this if it could possibly maintain above $28,800.
Could 2022 highs at mid $22,000 and quick liquidations as much as mid $33,000.
Bitcoin wants to carry above $28,800 and break this minor pattern line at $29,900 to materialize.”
Bennett additionally says that if BTC can keep above $28,800 this weekend, it’d simply be on a trendline approaching $32,000.
“Second of reality for BTC this weekend.
Final week closed beneath $28,800 and the $28,450 quarterly open.
So Bitcoin wants to carry above this space on Sunday to remain constructive and pattern increased in Could.
Lose it on the upper time frames, and we’ve a second deviation.”
Nevertheless, Bennett says that the overall crypto market cap (TOTAL), a measure of the whole crypto house, is retaining him from longing BTC proper now, even when it does shut above $28,800.
“TOTAL is one motive I’m not comfy longing crypto proper now regardless of BTC closing again above $28,800.
TOTAL continues to be holding beneath the $1.18 trillion vary highs after the current deviation.
Blended alerts.”
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