Crypto Analyst Unveils Massive Year-End Targets For Bitcoin And Ethereum, Says Traders Underestimate Second Stage Of Bull Market

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Popular crypto analyst says Bitcoin and Ethereum may achieve massive rallies before the end of 2021 as traders underestimate the second stage of the bull market.

Justin Bennett tells his 61,600 Twitter followers that he expects Bitcoin to start a staggering rally, well above the six-digit level, if the major cryptocurrency breaks its current record of $ 65,000.

“Most underestimate the level of FOMO (fear of running out) that will occur above $ 65,000 BTC.

Everyone thought the bull market was over. If it doesn’t and Bitcoin recovers $ 65,000, we’ll see a FOMO event like never before. In which case, over $ 200,000 via EOY (end of year) is totally on the table.

Source: Justin Bennett / Twitter

While a $ 200,000 BTC is in the realm of possibilities, Bennett says the path to a new all-time high won’t be easy.

“As always, there are no guarantees. Additionally, Bitcoin has a lot of work to do to collect $ 65,000. It won’t be easy. Having said that, I think many still underestimate the potential for a second leg for this bull run. “

It also highlights a key resistance for Bitcoin which, if removed, will likely trigger a run to $ 100,000.

“The penultimate key resistance for BTC ahead of new all-time highs is the region of $ 47,000. The last one is, of course, $ 65,000. Return $ 47,000 to support the daily and weekly delays and the Bullish run will likely continue to $ 100,000 +. Looking for $ 40,000 to hold as support.

Source: Justin Bennett / Twitter

Bennett is also looking at Ethereum, which he says forms an uptrend inside a huge ascending channel.

“Another massive upward channel. Not shocked.

Source: Justin Bennett / Twitter

Based on the trader’s chart, the main smart contract platform could cap at $ 18,000, which is a possible increase of over 475% from its current price of $ 3,130.

In the short term, Bennett sees the second largest crypto asset climb to $ 3,600 provided it holds a key level.

“ETH has been a trader’s dream since July. There are plenty of opportunities since the $ 1,700 rebound.

The next stop is $ 3,600 as long as $ 2,900 is held as support.

Source: Justin Bennett / Twitter

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