A leading cryptocurrency trader says that Bitcoin (BTC), Ethereum (ETH) and other major digital assets are showing signs of continued growth in the short term.
Crypto Analyst Justin Bennett Tells His 107,300 Twitter followers are expecting volatility today due to the non-farm payroll, a measure of the strength of the US economy excluding owners, private home employees, unpaid volunteers, farm employees and the self-employed.
“BTC is showing some signs of life. Same with ETH and others.
But remember Friday is non-farm payrolls, so expect volatility at 8:30AM ET.”
Yesterday the analyst I suggested That BTC was already on the way up.
“Whatever happens in the short term, I think the writing is on the wall for BTC.”
Then, this morning, with bitcoin trading at $2,0294, it looks like Bennett confirmed his ascendant hypothesis.
“Good morning fam.
BTC looks ready for $21,400. “
Bennett then looks at the S&P 500, a stock market index that tracks 500 publicly traded US-based companies. Merchant Believes S&P’s current moves are indicative of the short-term success of Bitcoin, Ethereum, and other top crypto projects.
What a rebound from the S&P 500 straight from the 3900 support.
Nice bullish hammer/pin bar too.
Perhaps it will return to the 4100 resistance from here, which could lead to a higher cryptocurrency in the short term.”
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