Crypto investor and technical analyst Justin Bennett believes that Bitcoin (BTC) still looks "pretty good" amid the market pullback as he predicts major gains for Cardano (ADA) and other altcoins.
In the latest edition of his Cryptocademic Newsletter, Bennett discusses Bitcoin's recent "aggressive" pullback to $ 63,000.
โBitcoin has just shaken off a large excess of leverage with an aggressive pullback to $ 63,000.
So what is that?
A prolonged throwback here certainly doesn't fit the 2017 fractal that I've discussed multiple times. But that doesn't mean it can't or won't happen. "
After looking at the BTC charts again, Bennett tweeted a more optimistic view.
โBitcoin still looks pretty good here, and there is a lot of support built up above $ 60,000.
Higher ups and downs are the key. So far, everything is going well for BTC.
Who knew that would turn into a rhyme? "
BTC It is trading at $ 65,107 as of this writing.
Tweeting about Cardano, Bennett predicts The native cryptocurrency of the global payment blockchain platform will soon skyrocket to more than $ 3.00.
โADA has claimed $ 2.15. So now it is a substantial support area.
Get over $ 2.35 on a daily close, and ADA returns at $ 3 +, [in my opinion]. "
THERE ARE it is currently trading at $ 2.09.
As for Ethereum (ETH), Bennett believes that the second largest crypto asset by market capitalization may exceed $ 6,000 before December.
โETH showed a nice pattern of steps. I say 'was' because today's closing could end that. A daily close below $ 4,600 could introduce some weakness.
I keep thinking about ETH / USDT [Tether] it has a chance of hitting the measured target of $ 6,000 - $ 6,500 in November as I have discussed, but only if this recovery remains constructive. "
Currently, Ethereum It is valued at $ 4,763.
Tweeting about the native token LINK of the blockchain service oracle Chainlink, the founder of Cryptocademy go the second stage of a "two-step break" as is already underway.
โLINK with a perfect two-step break. The second step is in progress and will be confirmed with today's closing โ.
LINK It is trading at $ 35.31 as of this writing.
And speaking of chains, Bennett also updates his perspective on the VeChain enterprise solutions-centric platform (VET).
โVET is testing the $ 0.155 region as support today after the Bitcoin sell-off.
In many ways, $ 0.15 is a must-have level. A daily close below that would put it into resistance and expose $ 0.14.
The area just below $ 0.19 remains resistance for VET / USDT. You can see how the market found selling pressure there during Tuesday's session. "
VET he is currently trading hands at $ 0.16.
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