Crypto analyst Justin Bennett tells his 107,300 Twitter followers to expect volatility today due to non-farm payrolls, a measure of the US economy’s strength excluding proprietors, private household employees, unpaid volunteers, farm employees, and the unincorporated self-employed.
“BTC is showing some signs of life. Same from ETH and others.
But remember, Friday is non-farm payrolls, so expect volatility at 8:30 am EST.”
Yesterday, the analyst suggested that BTC was already on its way up.
“Regardless of what happens in the short term, I think the writing is on the wall for BTC.”
Then, this morning, with BTC trading for $20,294, Bennett seemingly confirmed his bullish hypothesis.
“Good morning fam.
BTC looks ready for $21,400.”
Bennett then looks at the S&P 500, a stock market index tracking 500 publicly traded US-based companies. The trader believes the S&P’s current movements spell short-term success for Bitcoin, Ethereum, and other top crypto projects.
“What a recovery from the S&P 500 right from 3,900 support.
A beautiful bullish hammer/pin bar as well.
Maybe back to 4,100 resistance from here, which would drag crypto higher in the short term.”
Disclaimer: Opinions expressed at BitcoinLinux 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. BitcoinLinux does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is BitcoinLinux an investment advisor. Please note that BitcoinLinux participates in affiliate marketing.
Featured Image: Shutterstock/DM7/phanurak rubpol
The post Crypto Analyst Justin Bennett Predicts Imminent Bitcoin (BTC) and Crypto Bounce – Here’s Why appeared first on BitcoinLinux.