Justin Bennett

Husband. Dad. Full-time SMC trader.
Learn the exact strategy I use to trade full-time 👇

[Justin Bennett @JustinBennettFX]

Next stop for $BTC is probably $71-$72k.

If that fails (likely), $60k is next, followed by the mid-$40k range.

[Justin Bennett @JustinBennettFX]

$BTC relief rally looks to have run its course.

I'm still targeting mid $40k on this next leg, but don't rule out $30k over the next 6-12 months.

#Bitcoin

[Justin Bennett @JustinBennettFX]

@TylerSCrypto And structure?...

[Justin Bennett @JustinBennettFX]

@CryptoJelleNL Before that, it was within this multi-year channel, which also served as resistance in 2017/18.

So what you've discovered is actually the next point of failure that will only illustrate the law of diminishing returns that no market escapes, especially in these conditions.

[Justin Bennett @JustinBennettFX]

@CryptoJelleNL $BTC also spent 8 years inside of this channel and is now trading below it.

That 2022 low was 40% below channel support, so not nothing.

Law of diminishing returns, not to mention #Bitcoin has only existed outside of global recessions. I'll leave the rest to your imagination.

[Justin Bennett @JustinBennettFX]

@follis_ 🙋‍♂️

[Justin Bennett @JustinBennettFX]

@gbpmaxim Shared it yesterday

[Justin Bennett @JustinBennettFX]

$SOL back to $30?

Looks that way.

[Justin Bennett @JustinBennettFX]

What happens next?

ripple:native

[Justin Bennett @JustinBennettFX]

@bobbyhoward78 I was never underwater for several weeks, and shorting a relief rally after a 1h bearish structure shift within a broader downtrend is exactly where I want to short.

[Justin Bennett @JustinBennettFX]

$BTC relief rally looks to have run its course.

I'm still targeting mid $40k on this next leg, but don't rule out $30k over the next 6-12 months.

#Bitcoin

[Justin Bennett @JustinBennettFX]

@MaximusInvestor Maybe, but there's nothing on the charts to suggest that as the likely scenario. I'm talking data, you're talking emotion. I'll leave you to it.

[Justin Bennett @JustinBennettFX]

Good to know I can spend months away from this place only to come back and find that it hasn't changed one bit. These comments. lol

If you think we've reached max bearishness, don't read the comments.

[Justin Bennett @JustinBennettFX]

@SamStonedIsland It's a social post, not a whitepaper.

[Justin Bennett @JustinBennettFX]

Me: BTC to $30k, ETH to $500

Crypto Bro: Not possible. That would destroy alts.

There are 50 million alts on the blockchain, and maybe 0.1% have any real utility, and that's being generous.

Me: Yes, and?

[Justin Bennett @JustinBennettFX]

@MaximusInvestor Didn't say it is. My posts are always based on multiple factors, not just BTC or even crypto.

I'll leave the "basic 101 stuff" to you.

[Justin Bennett @JustinBennettFX]

@bobbyhoward78 BTC is unchanged since that call. An additional 6% relief rally isn't going to change that.

I've put on two BTC shorts in the last few months. One was a slight profit, and one is on now and in profit. I share all trades in real time in Discord. If you're in there, you know.

[Justin Bennett @JustinBennettFX]

@mustxbt Fair point, but Japan only works because BoJ won't normalize. The Fed can't pull that off with $39T in debt. If yields break higher from here, that gets us to bear market targets faster, not slower.

[Justin Bennett @JustinBennettFX]

Why was the last #crypto bull market different?

Yields are the most obvious answer.

Anyone pattern-matching $BTC or $ETH to previous bear markets isn't paying attention to the bond market, and that's a mistake.

If you're expecting this "cycle" to be like every other after bond yields broke a 40+ year trend in 2022, you're in for a lot of pain.

Whatever your target is for this crypto bear market, I'm betting it isn't low enough.

[Justin Bennett @JustinBennettFX]

@show4653 Not if you can respect the facts, stay patient, and stockpile some cash for the bottom. Or better yet, short the hell out of it now and then roll those profits into DCA longs.

[Justin Bennett @JustinBennettFX]

So then why are stocks at ATHs?

Because the AI complex is carrying the entire market. The concentration of the Big Ten AI stocks is over 40%.

Over the last 100 years, anytime one sector has reached a concentration of 40% or more, stocks have entered a bear market. I'm talking dot-com and GFC-era declines.

Given the crypto market's relative weakness to stocks since October, you can see where I'm going with this.

[Justin Bennett @JustinBennettFX]

@P_likecat_X Great

[Justin Bennett @JustinBennettFX]

@Juspion I often follow worthless scammers too. Makes life interesting.