A widely followed crypto trader is seeing more bullish market sentiment on social media than he’s witnessed in months.
Digital asset analyst Justin Bennett tells his 102,000 Twitter followers that social media sentiment on crypto appears to be high.
“I haven’t seen this many bullish posts on Twitter since April.”
Looking at Bitcoin (BTC), Bennett says the largest crypto by market cap could be in a relief rally. If so, the trader thinks the $21,100 area will mark a trend reversal.
“$21,100 BTC is a resistance area to keep an eye on in the next few days.
A lot of confluence there. If this is just a relief rally, which I think it is, it’s likely to reverse near $21,100 in my opinion.”
Revisiting the remarks today, Bennett still thinks $21,100 remains Bitcoin’s next “big test.”
“Nice move from BTC after reclaiming $20,400.
$21,100 is the big test for Bitcoin in my opinion.”
Bitcoin is trading for $20,435 at time of writing, up 1.6% over the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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