Bitcoin (BTC)Crypto News

According to crypto analyst Justin Bennett, an “eye-opening” pricing pattern could develop for Bitcoin

Popular crypto analyst Justin Bennett believes that Bitcoin (BTC) could expect further downward price movements in the short term.
In a YouTube analysis, Bennett notes that whenever BTC has had a liquidation wick down over the past year, the leading crypto asset tends to bounce back first before falling below the bottom of the liquidation candle lows and again jumps all the way up.

The crypto analyst points out that Bitcoin’s latest liquidation candle, dated December 4th, tested the $ 42,000 area.

“Right now, Bitcoin is kind of in the process of filling that lower wick.

But the question is, will it fill that wick completely? Or does it just spin sideways to lower it and then just balance out of this area down here … around $ 45,000, exactly.

Now, if we take last year’s history as a guide and think about what I just showed you, Bitcoin, every time there was a liquidation candle, not only did it retest that low, it even went up just below it, before she moved higher. ”

Bennett predicts that BTC could dip as low as $ 40,000 and then rise in January.

Bitcoin is trading at $ 49,147.61 at the time of writing, up more than 4% over the past 24 hours.

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Source: Crypto News Deutsch

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