Popular cryptocurrency expert Justin Bennett has updated his view on Bitcoin (BTC) following its 35% increase in just 5 days. According to Bennett, Bitcoin’s value may increase by more than 20% from where it is now. He examined if the current “mind-bending pump that grabbed 35% in 5 days” is done and whether Bitcoin still has the capacity to grow. Bennett predicts that Bitcoin’s price might increase to $30,000 if it rises much above $25,000 in value.
Analysis of Bitcoin’s Later Attacks
Bennett believes that Tuesday’s pullback flushed the liquidity accumulation just above $23,000 and cleared off late longs. He is implying that a sharp rebound from the $23,000–$23,500 region might send BTC back up to $25,200. $25,200 would authorize the next.
He is implying that a sharp rebound from the $23,000–$23,500 region might send BTC back up to $25,200. The next leg up into the $28,000–$30,000 range would be signaled by a daily close above $25,200, but it depends on a significant bounce from the mid $23,000 area. Bennett cautions that if Bitcoin loses support at the $23,000 level, it might fall as low as $21,500.
Bitcoin Exceeds $25,000 BTC/USD briefly climbed to an intraday high of $25,240.62 earlier in the day, breaking through a crucial resistance level in the $25,050 region. As a result, Bitcoin once more climbed above the $25,000 mark.
