Popular crypto trader Justin Bennett has released his latest batch of market analysis accompanying his bitcoin (BTC) playbook for October. The analyst says he believes that the flagship crypto will continue to trade above the level of $18,700 next month.
“As long as $18,700 holds, this is my #Bitcoin playbook through October,” the trader tweeted.
“I'm still macro bullish on the USD, but I see no reason to be bullish on it in October, given how the charts are setting up,” the analyst said.
One of the factors Bennett takes under consideration while developing his playbook for the coming months is the US Dollar Index (DXY), a measure of the value of the U.S. dollar in relation to a basket of other assets, for instance a set of cryptocurrencies.
“Not only did the $DXY confirm a bearish deviation from a 10-month level today, but it also closed back inside this channel from August,” according to the trader.
Reacting to a tweet by user Kevin Roberts, who said that the price level of...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...