Justin Bennett, one of the well-known analysts of the crypto world, Bitcoin (BTC) shared an important prediction about According to Bennett, Bitcoin may be in a more bearish trend in the short term.
Speaking in a new analysis he shared on his YouTube channel, Justin BennettHe pointed out that when there was a “liquidation wick” to the downside in the price of BTC last year, the asset initially tended to recover before breaking below the bottom of the liquidation candle and making a full upward bounce again.
The crypto analyst pointed out that Bitcoin’s last liquidation candle on December 4 tested the $42,000 range.
“Currently, Bitcoin is in the process of filling this bottom wick. But the question is, will it fill that wick completely? Or will it just turn sideways and then balance out around $45,000 from this zone?
Now, if we use history here as a guide over the past year, and considering what I just showed you, Bitcoin not only retested that low every time there was a liquidation candle, it actually moved just below it before it actually moved.”
Bennett, BTCHe predicts that .
Bitcoin (BTC) is trading at $49,147, up more than 4% in the last 24 hours at the time of writing.
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