Popular crypto analyst Justin Bennett discussed the course of Bitcoin (BTC) in his broadcast on YouTube.
Bitcoin is struggling to maintain the $40,000 level after losing 10% in two days. Bennet believes the asset will not register 25% or 50% declines.
“I think it’s too early for $30,000 or $20,000 estimates. Is it possible? Yes, I could be wrong”
. Bennett points to $39,600 as the critical level Bitcoin should hold.
“There will be support around $39,600 right here. Yes, Bitcoin dropped below $42,000 yesterday. However, it is still above the $39,600 level”
Also looking at Bitcoin’s upside potential, the analyst stated that two critical resistance levels must be broken in order to return to the $50,000 level.
“As for resistance, the asset needs to surpass the $42,000 and $46,000 levels”
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