A closely followed crypto analyst is turning bearish on Bitcoin, warning that BTC may plummet into the $90,000 range.

In a new thread on the social media platform X, crypto trader Justin Bennett tells his 115,700 followers that Bitcoin is bumping into resistance at the $106,061 level on the four-hour chart and is likely going to have a pullback.

“Hopefully, you’ve avoided getting bullish at resistance. Still looking for $98,600, followed by $91,800, and still short BTC.”

Source: Justin Bennett/X

The analyst also warns that Bitcoin’s price action appears to be having a correlation with the performance of the S&P 500 and that the equities may correct after hitting a range high.

“If BTC’s price action has you confused, check the S&P for clues. Sweep one side, then sweep the other, and range until proven otherwise.”

Source: Justin Bennett/X

Bennett also shares a chart showing how BTC and the S&P 500 appear to be moving in tandem.

Go to Source to See Full Article
Author: Daily Hodl Staff

Did you like this?
Tip BTC Newswire with Cryptocurrency

Donate Bitcoin to BTC Newswire

Scan to Donate Bitcoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some bitcoin:
Donate via Installed Wallet
[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan to Donate Bitcoin Cash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send bitcoin:
Donate via Installed Wallet
[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan to Donate Ethereum to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Ether:
Donate via Installed Wallet
[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan to Donate Litecoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Litecoin:
Donate via Installed Wallet
[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan to Donate Monero to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Monero:
Donate via Installed Wallet
[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan to Donate ZCash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some ZCash:
[X] Click Here to Hide Donation Details

DailyHodl

dailyhodl

BTC NewswireAuthor posts

BTC Newswire Crypto News at your Fingertips

Related Posts ...

Comments are disabled.

Please enter Coingecko Free Api Key to get this plugin works
BTC-Newswire
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.