Crypto analyst Justin Bennett has warned his 110,800 followers that Bitcoin (BTC) could fall by more than 11% from its current value. He suggests that Bitcoin has hit the diagonal resistance of an ascending channel and is now in a downtrend that may test the lower bound of the channel at $48,000 before bouncing back in October. Bennett also notes that Bitcoin appears weak on the monthly chart after August recorded a seven-month low. He believes that Bitcoin bulls need to act soon to avoid a significant correction. At the time of writing, Bitcoin was trading at $54,359, down more than 3% in the last 24 hours.
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