A closely followed strategist is eyeing price charts from the 2017 Bitcoin (BTC) bull run to see where the world’s leading crypto is heading next.
Justin Bennett tells his 82,800 Twitter followers that comparing BTC’s previous peaks and valleys is “like having a cheat code.” He foresees a new all-time high of $80,000 just around the corner, followed by a leap past $100,000.
“The 2017 fractal accounts for this week’s pullback.
Each move this cycle has been a little less aggressive than in 2017.
It was a 13% pullback then. Probably an 8-10% pullback now, or $60k BTC.
Then $80k+ in early November, $65k retest in mid-November, and $100k+ in December.”
The trader uses some video game jargon in a follow-up tweet.
“This is like having a cheat code
As long as it doesn’t deviate.”
Bennett next zooms in on the BTC candles chart as he highlights a pullback that mirrors a 2017 price drop.
“Here’s that slight BTC pullback I was referring to yesterday.
Next area of support is $58,000 – $60,000.
Bitcoin needs to reclaim the $64,000 area to become constructive again.”
Finally, the analyst plots out a price road map where Bitcoin surges well past $100,000 into the $200,000+ range by early January of next year.
“I think something like this is much more likely.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/sezer66
The post This Bitcoin Chart Is Like a ‘Cheat Code’ for Calling Top Cryptocurrency’s Trajectory, Says Crypto Analyst Justin Bennett appeared first on The Daily Hodl.
