Justin Bennett

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Bitcoin's Puppet Master What the S&P 500 is telling us about where #crypto is heading in July. $SPY $SPX $BTC $ETH youtu.be/Vu9JN9xga5k
Look how clean this is from $BTC. All explained in Tuesday's video. That $19,800 area requires a daily close below to confirm the break. But as of right now, the price action since the 24th is a confirmed fakeout, so the most likely path is lower. #Bitcoin twitter.com/JustinBennettF…
$TOTAL is likely heading to $700-$730B. This has been my base case since May. We could see a more significant relief rally from there, but it all depends on what's happening with inflation, the Fed, etc. $BTC $ETH
Holding for now but starting to give out.
The next big test for the S&P 500 is this 3,800-3,820 area. Close below that, and 3,640 is next. That would likely drag #Bitcoin back below $19,800. $SPY $SPX twitter.com/JustinBennettF…
The S&P 500 confirmed a bull trap today, and the #crypto market followed. I discuss these breakdowns in today's video and what I'm watching over the next 24-48 hours. Updates include the S&P 500, $TOTAL, $BTC, $ETH, $SAND, and $VET! cryptocademy.com/members/issue-…
Retweeted by Justin Bennett
$SOL with a fakeout above $37. Probably wants $20 on this next leg lower.
Good to be back making videos again! I've really missed the YouTube trolls. 😂
I don't think #Bitcoin has bottomed yet. Today's video explains why and where I think $BTC will find a bottom in the coming weeks. youtube.com/watch?v=dKYSJk…
Final 3 days to participate in this giveaway! Details below. I'll pick a winner on July 1st. 🥳twitter.com/JustinBennettF…z
And it all started with the S&P 500 losing 3,880 earlier in the day. That was the warning shot.
Big test here for $TOTAL. Lose this level, and the last five days become a fakeout. Expect much lower levels if this fails, as in a 15-20% drop. #crypto $BTC $ETH
I've seen a few comments stating that this could be a fakeout. The fakeout to the upside already occurred. The last 1h close confirmed it. No guarantees, but fakeouts of fakeouts are rare.
1h close below confirmed. This rally in stocks and crypto is likely to start unraveling from here.
Everything else is just noise. You could literally trade BTC using nothing but the S&P chart above. As of now, it looks like this level will fail.
Everything for #crypto boils down to this... Does the S&P 500 fail to hold above 3,880? If so, and we get a 1h close below, this latest rally becomes a fakeout, and we likely get the next leg lower for stocks and crypto alike. $SPY $SPX $BTC $ETH
Gm! ☕️ So once again this morning, the S&P 500 rallied and $BTC didn't follow. This relative weakness has led to downturns in the past. The #crypto market is mostly above support for now, but for how long? $SPY $SPX
$DOGE starting to set up now.
Issue 236 of the Cryptocademy newsletter just landed in your inbox! 📩 Today, I discuss two scenarios I'm eyeing for the S&P 500, plus what $TOTAL needs to do to confirm a few setups. Also, updates on $BTC, $ETH, $SAND, and $DOGE! cryptocademy.com/members/issue-…N
Retweeted by Justin Bennett
Say what you want about $DOGE, but it's been a trader's dream over the last 6 weeks. We caught the breakdown on June 10th, which was an insane trade. Now #DOGE is nearing the apex of a rising wedge after testing resistance today. Close below support sends it back to 5 cents.
$BTC is mostly sideways, but it is trading below former channel support following Sunday's breakdown. Big test at $19,800. Not far away now. #Bitcoin
I'm starting up the daily YouTube videos again. The first one will drop tomorrow. Subscribe below so you don't miss out. 👇 youtube.com/channel/UCdGbX…I
We've also seen this from the S&P 500 before. A large green weekly candle to trap buyers, followed by the next leg lower. The 3,400 pre-COVID high is likely to serve as a magnet. Maybe a 4k test before the next leg lower begins. $SPY $SPX
$BTC continues to lag the S&P 500 on this run-up. We've seen this before. The moment stocks start to roll over, #crypto is likely to dump. twitter.com/JustinBennettF…
Everything is either breaking support or looks ready to. $TOTAL with a small fakeout above $940B. Now weighing on channel support. I doubt this holds much longer. $BTC $ETH
Issue 235 of the Cryptocademy newsletter is out! 🔥 Today's video discusses the ramifications of Bitcoin lagging the S&P 500 like it did today, including a few setups to watch next week. Updates include the S&P 500, $TOTAL, $BTC, $ETH, and $VRA! cryptocademy.com/members/issue-…P
Retweeted by Justin Bennett
Stocks like Bart too. S&P 500
Nice move from the S&P 500 today, but #crypto is asleep. Things got ugly the last time this happened. Be careful out there. S&P in blue, $BTC in orange.
Issue 234 of the Cryptocademy newsletter discusses what an S&P 500 breakout means for #crypto and how to trade fakeouts with insanely high win rates. Updates today include the S&P 500, $TOTAL, $BTC, $ETH, and $SAND! cryptocademy.com/members/issue-…
Retweeted by Justin Bennett
We either get an immediate breakdown in the next 24-48 hours or a fakeout above resistance in the next few days, IMO. Either way, I don't think we escape this without another leg lower to the $16k-$17k area. $BTC #Bitcoin
Looking pretty weak out there. The market held above macro support on Wednesday, but not sure how much longer it can keep this up. $TOTAL is sitting on channel support atm. $BTC $ETH
Issue 233 of the Cryptocademy newsletter is out! 🔥 Today, I discuss a few must-hold supports for the#cryptoo market, including my targets if those levels break. Updates include the S&P 500, $USDC.D, $BTC, $ETH, and $SAND! cryptocademy.com/members/issue-…W
Retweeted by Justin Bennett
$BTC looks heavy here. If $19,800 fails at today's close, #Bitcoin is likely heading back to $17,600 if not $16,000.
The S&P 500 is still fighting with 3,800. That's the level it needs to reclaim on a daily closing basis to move higher. And since $BTC follows the S&P, we can say that any relief for #crypto hinges on 3,800 as well. $SPY $SPX twitter.com/JustinBennettF…
The Fed dropped rates from 5% to near zero in 12 months after the 2008 meltdown. Those accommodations, among others, are why 2008 wasn't worse than it was. They can't do that this time because rates are less than 2%. No superhero landings this time.
Let me share a few numbers for the people telling me that current conditions can't possibly be worse than pre-2008. Pre-2008 Fed funds rate: 4-5% Current Fed funds rate: Less than 2% Pre-2008 Fed balance sheet: $900B Current Fed balance sheet: $9T CBs are tapped out. twitter.com/JustinBennettF…
Which pattern plays out?
Battle of the $BTC head and shoulders. The last two days on the left, the past week on the right. Neither pattern has been confirmed. #Bitcoin
That worked out well. And now the S&P futures have broken below trend line support on the hourly. $SPY $SPX
Get 7 days of access to Cryptocademy for just $1! Includes daily newsletters, videos, and private Discord access, where I post chart updates, share my trades in real-time, and talk about all things markets. cryptocademy.com/pricing/
Why this rally will likely fail. Updates in today's video include the S&P 500, $TOTAL, $BTC, $ETH, $SAND, and $LINK. cryptocademy.com/members/issue-…
Fakeouts like this are all you need to trade successfully. They occur over and over again and have an insanely high win rate.
There goes $TOTAL. Textbook hourly fakeout to set up the short opportunities elsewhere. $ETH, $LINK, etc. twitter.com/JustinBennettF…
What happens if the Nasdaq drops 54% as it did in 2008 or 83% in 2000? It's not unreasonable considering the mess we're in. The fact is that crypto has never been through a global recession, so any fractals from past cycles are about to become an exercise in futility.
Why I don't think the macro bottom is in for #crypto: The global recession risk is the highest since 2008, and CBs are tapped out. In 2008, the Nasdaq dropped 54%; in 2000 it fell 83%. It's currently down just 34% and global economies are starting to face massive challenges.
S&P 500 is coming into some resistance here, just below 3,800. The market will want to test that 3,400 pre-COVID high in the coming weeks, IMO. $SPY $SPX
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