Home » High Analyst Predicts Bitcoin (BTC) Exercise By June, Warns Extra Consolidation Possible

High Analyst Predicts Bitcoin (BTC) Exercise By June, Warns Extra Consolidation Possible

by CoinVeem

A extensively adopted crypto dealer says king crypto Bitcoin (BTC) could fall additional in June earlier than rebounding.

Crypto analyst Justin Bennett tells his 112,600 Twitter followers that $25,000 is likely to be the subsequent cease for BTC.

“BTC continues to be catching a bid at $26,560, but when this stage fails, $25,000 is subsequent.

Whereas many will bid $25,000 for a macro lengthy, I believe we see decrease within the coming weeks.

One thing like that is my base case however could also be tweaked as issues unfold.”

Supply: Justin Bennett/Twitter

Diving deeper into the scenario in a brand new blog post, Bennett says he’s bearish on BTC for now.

“Bitcoin is as soon as once more testing the $26,560 key horizontal assist after getting rejected from the mid-March development line at $27,500…

The $27,500 space was our goal on an extended following the $26,560 reclaim on Might twelfth.

Bitcoin bulls failed to shut BTC above $27,500 this week, which leaves me comparatively bearish for now.

That mentioned, a every day shut under $26,560 is required to open up draw back targets like $25,000.

That was vary resistance for BTC between August 2022 and February 2023.

Though many will bid Bitcoin within the $25,000 area, in search of $30,000 or increased, I believe we see the market finally break under $25,000 after some consolidation.

My goal over the subsequent few weeks is the $23,000 area, the measured goal of the triangle proven under…

Alternatively, a every day shut above $27,500 would invalidate my bearish bias and expose ranges like $28,500.”

Supply: Justin Bennett/DailyPriceAction

BTC is value $26,919 at time of writing, down 0.5% within the final 24 hours.

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