# Crypto: "Bitcoin Rally Will Run Beyond Expectations"

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Last modified: 2022-05-16

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By Paul Ebeling · 2022-05-16
Tags: Shayne Heffernan on Investments, Luxury, rally, Lifestyle, Paul Ebeling, Bitcoin, Crypto, Education, crypto, Bitcoin, Ethereum, Knightsbridge Insights, Living, Knightsbridge, Blockchain, Featured, DeFI, KNIGHTS, Business, Market
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#crypto #bitcoin #rally

$BITCUSD

"*A cl*osely *followed crypto strategist and trader is predicting a big Bitcoin rally that he believes will run beyond expectations*" -- Paul Ebeling

Analyst Justin Bennett tells his 100,900 Twitter followers that Bitcoin has likely printed a temporary bottom after managing to reclaim a key support level.

*“There’s a good chance crypto has reached a local bottom if BTC can reclaim $28,800 today.*

*Like the sell-off, the relief rally will likely run beyond most expectations.”*

At time of writing, Bitcoin is changing hands for $29,523.81.

We are keeping a close watch on the USDT dominance chart (USDT.D), an index that tracks the valuation of stablecoin Tether (USDT) relative to the market cap of all crypto assets.

A rallying USDT.D valuation indicates that traders are selling their crypto assets to store their capital in Tether. Meanwhile, a correcting USDT.D chart suggests that traders are risking their Tether and buying Bitcoin and other cryptocurrencies.

Mr. Bennett says that USDT.D is poised for a deep correction as it trades within a trend exhaustion pattern.

*“USDT.D with a massive broadening ascending wedge (exhaustion pattern).* *This breaking lower is the relief rally for crypto as it moves inversely to Bitcoin.*

*The objective is 20% lower, which roughly translates to 20% higher for BTC from current levels.”*

He adds that a 20% pullback on the USDT.D chart could push Bitcoin “roughly” between $35,000 and $36,000.

And also reminds his followers that even if Bitcoin looks bearish, the market often provides opportunities for strong bounces.

*“We’re at that point in the downtrend where many feel that BTC will never rally again. It’s complete despair out there. That’s usually a good time to do some shopping. Even bear markets don’t move in straight lines.”*

[For live crypto rice action click here](http://crypto.livetradingnews.com/en)

Have a prosperous week, Keep the Faith!

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