Justin Bennett: BTC Still Looks Good, Predicts Rallies for ADA, ETH And LINK
According to Justin Bennett, a top crypto analyst and trader, Bitcoin (BTC) still looks good, after the recent correction. He also predicts price uprise for Cardano (ADA), Ethereum (ETH) and Chainlink (LINK).
“Bitcoin Still Looks Pretty Good”
Bennett wrote about Bitcoin’s latest correction down to $63K in the latest edition of his Cryptocademy newsletter.
“Bitcoin just shook out a lot of excess leverage with an aggressive pullback to $63,000.
So is that it?
An extended pullback here certainly doesn’t fit the 2017 fractal that I’ve discussed several times. But that doesn’t mean it can’t or won’t happen.”
At the time of writing ADA is trading at $2.07 with 5.35% gains on a weekly chart.
Ethereum (ETH)
Regarding the second largest crypto asset, Ethereum (ETH), the trader believes that ETH could surge past $6,000 before December.
“ETH was showing a nice stair-step pattern. I say ‘was’ because today’s close could put an end to it. A daily close below $4,600 could introduce some weakness.
I still think ETH/USDT has a shot at making it to the $6,000 – $6,500 measured objective in November as I’ve discussed, but only if this rally remains constructive.”
At the time of writing, Ethereum is trading at $4,719 with 4.85% gains on a weekly chart.
Chainlink (LINK)
Lastly looking into blockchain oracle service Chainlink’s native token, Bennett says that LINK is forming a “two-step breakout,” which is already in progress.
“LINK with a perfect two-step breakout. The second step is in progress and will confirm with today’s close.”
