As per the reports, Bitcoin to shoot up to $50,000 in March, according to Crypto Analyst Justin Bennett. This popular analyst is devising a roadmap for how Bitcoin could recapture the $50,000 level in the coming few weeks.
Justin Bennett, A popular crypto analyst, takes a dig into a brand new strategy session on how Bitcoin’s recent price action could suggest that the leading crypto might have established a local standard after BTC managed to stay above $35,000.
$40k $BTC continues to be the one to reclaim.
I’m relatively bullish for March. Even more so once this is reclaimed.
— Justin Bennett 🇺🇦 (@JustinBennettFX) February 27, 2022
Bitcoin Price has set a Standard Never Seen Before
The popular crypto analyst, Justin Bennett, stated that
“I want to show you what I’m looking for in March – this potential setup that could have Bitcoin trading up toward the $50,000 area over the next few weeks…”
He also continued to say,
“We have two lows down here which was $34,700 both in mid-January and this past week. This is a potential double bottom for the market.”
As per the reports, the confirmation for this is not only the said standard above $39,600, and that’s step one. The following step two is a niche close above $46,000. And that’s high since February 11, so potentially this would be the set neckline of the double bottom pattern.
Justin Bennett also cites two essential key levels which, if reached, Bitcoin could whoop back to $50,000 in the coming few weeks.
“We need to see a daily close above $39,600. Also a daily close above $46,000 area. That will expose this area between $50,000 and $53,000. This has been a key level on the chart for the past few months,”
said Justin exclusively.
At the time of writing, Bitcoin is up 2.4% on the day and priced at $39,348.