A closely followed crypto strategist who continues to build a following with timely Bitcoin calls is unveiling his worst-case scenario for BTC.
Justin Bennett tells his 108,800 Twitter followers that Bitcoin is forming a large bearish pattern that could potentially push BTC close to its 2018 bear market lows.
“Since late May, BTC has formed a descending triangle. The objective of this pattern is $5,000. Yes, that.
This is probably a worst-case scenario for Bitcoin, and $12,000 comes before this. But don’t rule it out.”
Source: Justin Bennett/Twitter
Bennett also says that while $5,000 is the pattern’s objective, it doesn’t necessarily mean that BTC will actually drop down to those levels.
“If you apply a percentage objective to this instead of a price objective, you