Widely-followed crypto analyst Justin Bennett says Bitcoin (BTC) may be ready to rise again, while noting areas of confluence for three popular altcoins and diagnosing the crypto markets as a whole.
In the latest edition of his Cryptocademy newsletter, Bennett says he doesn’t have “high hopes” for BTC making a parabolic move this week.
“I know many are expecting a parabolic move from Bitcoin any day now, but that’s why I’m not putting high hopes on it. The market has a way of humbling the masses.
BTC would need to climb back above $63,300 on a daily closing basis to open up $66,000. Above that is the $70,000 area.
What might be the more likely path in the short term is a move to test the $55,000