Crypto analyst Justin Bennett tells his 107,300 Twitter followers to expect volatility today due to non-farm payrolls, a measure of the US economy’s strength excluding proprietors, private household employees, unpaid volunteers, farm employees, and the unincorporated self-employed.
“BTC is showing some signs of life. Same from ETH and others.
But remember, Friday is non-farm payrolls, so expect volatility at 8:30 am EST.”
Yesterday, the analyst suggested that BTC was already on its way up.
“Regardless of what happens in the short term, I think the writing is on the wall for BTC.”
Then, this morning, with BTC trading for $20,294, Bennett seemingly confirmed his bullish hypothesis.
“Good morning fam.
BTC looks ready for $21,400.”
Bennett then looks at the S&P 500, a stock market index tracking 500 publicly traded US-based companies. The trader believes the S&P’s current movements spell short-term success for Bitcoin, Ethereum, and other top crypto projects.
“What a recovery from the S&P 500 right from 3,900 support.
A beautiful bullish hammer/pin bar as well.
Maybe back to 4,100 resistance from here, which would drag crypto higher in the short term.”
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