Famous trader and crypto analyst Justin Bennett said that Bitcoin (BTC) is ready to rise, while emphasizing the importance of all three altcoins.
Bennett said he doesn't have great hopes for Bitcoin to make a parabolic move this week.
I know many people expect a parabolic move from Bitcoin every day. However, I do not hold high hopes for this reason.
Bitcoin will need to climb above $63,000 on a daily basis to exceed $66,000. Then there will be $ 70,000 level in front of it.
In the short term, the most likely route would be to test the $55,000 level.
I believe it is important to keep an open mind here, as everyone should during consolidation.
Bennett still says that the crypto-asset could rise again:
Bitcoin could be preparing for a rally at $63,000 in a few days.
In these types of consolidation periods, it is best to look for short-term opportunities or nothing.
The trader also analyzed the state of Ethereum:
Ethereum is trying to hold on to the $4,200 level I mentioned recently. If the asset exceeds here, it could rise to $4,400 again.
I think between $3,800 and $4,000 is the level of support to be had.
Bennett thinks Chanlink (LINK) will go down:
Currently LINK is getting some support at $28 as expected. If it closes at $24 this could potentially lead to a return to $21.
Lastly, the trader also talked about VeChain and told investors that the asset should be ready for the possibility of retesting $0.12.