Cryptocurrency Justin Bennett, one of the closely followed names in the world, commented on the Bitcoin chart. bitcoinHe commented on the data he saw interesting on the Bitcoin chart, stating that .
The analyst, who wants to see what is the millennium next stage of Bitcoin, seems to have decided to follow the price chart of Bitcoin’s (BTC) bull run in 2017.
He stated that comparing BTC’s previous peaks and valleys is “like having a cheat code,” according to his analysis, which he shared with his over 82,000 Twitter followers. According to the analyst, interpreting the bull runs in previous years, it is possible to see that the bull run that took place today can quickly rise to $ 80,000 and then to a level exceeding $ 100,000.
“The fractal from 2017 explains this week’s retracement.”
Every move that took place in this cycle also took place in 2017. We saw a pullback of 13% then, but today we see a pullback of 8-10% and the value of BTC is different ($60,000). Then it’s possible to see $80,000 in early November, $65,000 in mid-November, and then $100,000 in December, which shouldn’t be too hard.
The analyst, who likened interpreting the Bitcoin chart to using cheat codes in games, said, “It’s like having a cheat code, don’t you realize it!” made a statement.
Bennett then zooms in on the BTC candlestick chart while highlighting a pullback reflecting the 2017 price drop.
“Here is the pullback I told you about yesterday, the next support area will be between $58,000 and $60,000. For Bitcoin to be constructive again, it must recapture the $64,000 level.”
Finally, the analysis charting that Bitcoin will confidently move towards the $200,000 target by exceeding $100,000 in the first half of January next year:
“I think something like this is more likely,” he said.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.