A Crypto analyst and trader closely warns that Bitcoin (BTC) will soon be able to return to the reach of $ 70,000.
In a new thread, Crypto trader Justin Bennett tells Are 115,900 followers on the social media platform X that Bitcoin can soon fill in a CME hole by dipping the level of $ 77,360.
A cme gorge is the difference between the Friday closing price of Bitcoin and the opening prize on the Chicago Mercantile Exchange on the Chicago Mercantile. Traders pay attention to gaps because these price differences tend to be filled.
Bennett seems to refer to a gap that was printed in November last year.
“I still think we see a sweeping of $ 78,260 low, especially after the rejection of the monthly resistance of $ 92,000. Bulls are at borrowed time. ‘
Bennett also says he doesn’t to believe Bitcoin will soon be able to break the resistance level of $ 92,000, despite recent meetings.
“There is the retest of $ 92,000 resistance. It worked so well the first time that the bulls wanted to do it again. Short of $ 91,000. “
Finally, not Bennett to believe The Crypto top of the White House of Friday, when more information about the US Crypto Strategic Reserve is expected, will lead to a persistent Bitcoin rally.
“This is when everyone tells me about Friday’s crypto summit as if there will be a number of groundbreaking announcements. I mean, the man just placed Ada in a ‘strategic’ reserve. Think about that. It’s hard to type without laughing.
The best scenario is BTC Pukes that will go into the top of Friday. Otherwise it will probably go down if another buy it rumor, the news event sells. ”
Bitcoin acts for $ 87,884 at the time of writing, a decrease of 3.7% in the last 24 hours.
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Generated image: midjourney