Justin Bennett Is Very Bullish On Ethereum (ETH), Looks Into Bitcoin (BTC)

According to Justin Bennett, a prominent crypto market analyst and trader, Ethereum (ETH) will soon ignite a huge rally against its Bitcoin pair.

ETH/BTC

Bennett shared with his 93.5K followers on Twitter that the leading smart contract platform Ethereum is now ready to move up after breaking out of a bullish pattern against Bitcoin (ETH/BTC).

“ETH/BTC in full beast mode.

Now above 0.082 (BTC) and climbing. The objective is 0.10-0.11 (BTC), so there’s still room to move higher in the next few weeks.

The objective from the January breakout is 0.16 (BTC).”

$ETHBTC in full beast mode.

Now above 0.082 and climbing.

The objective is 0.10-0.11, so there's still room to move higher in the next few weeks.

The objective from the January breakout is 0.16.$ETH $BTC https://t.co/KRcVm0EXGW pic.twitter.com/rPC5sjwwkO

— Justin Bennett (@JustinBennettFX) December 6, 2021

At the time of writing ETH trading at 0.088 BTC, with 2.7% gains on a daily chart.

ETH/USD

Looking into Ethereum against USD, Bennett thinks that ETH still looks quite strong despite last weekend’s steep correction.

“I find it ironic that the second-largest crypto by market cap is 14% off its all-time high while many on Twitter act like the sky is falling. Stay cautious? Yes. Panic? Not a chance.”

I find it ironic that the second-largest #crypto by market cap is 14% off its all-time high while many on Twitter act like the sky is falling.

Stay cautious? Yes.

Panic? Not a chance. $ETH pic.twitter.com/27ZQc09B24

— Justin Bennett (@JustinBennettFX) December 6, 2021

Bitcoin (BTC)

Bennett also looks into Bitcoin’s chart, and opines that BTC must turn $50K price level into support to get back its bullish momentum.

“BTC back above $50,000. Needs to reclaim $53,000 to turn bullish again.” 

$BTC back above $50k.

Needs to reclaim $53k to turn bullish again.#Bitcoin pic.twitter.com/u98VabFKip

— Justin Bennett (@JustinBennettFX) December 6, 2021

The analyst also drafts a potential scenario where BTC could just consolidate between $52K and $43K during December.

“Keep in mind that the current range isn’t exactly small. Could be lots of this for the next few weeks.”

Keep in mind that the current range isn't exactly small.

Could be lots of this for the next few weeks: pic.twitter.com/qOTdwVEn6x

— Justin Bennett (@JustinBennettFX) December 6, 2021