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Crypto Trader, which warned Bitcoin would break below $ 30K, now predicts a new 52-week low




The pseudonymous crypto dealer Capo says so Bitcoin BTC / USD is ready to reach a new 52-week low as another sales event is insight.

The prediction comes as the crypto market shows signs of weakness, and as Bitcoin has managed to trade above $ 28,400, slightly higher than its lowest 52-week high of $ 26,910.

Capo has warned that the support area around 28,000 dollars is flashing signs of exhaustion of demand, as BTC has returned to the price level six times quickly.

“Almost the entire market except BTC has set a new low after yesterday’s bounce, showing that it was a bull trap. BTC new low incoming,” he said.

When Bitcoin takes out its immediate support, Capo predicts a sharp drop to its bear market target of between $ 21,000- $ 23,000.

Read also: Billionaire Mike Novogratz says Bitcoin will lead the next rally: Here’s why

Earlier this month, the crypto strategist accurately predicted that Bitcoin would take out the central psychological price level of $ 30,000.

Capo said: “BTC broke the $ 30,000 support zone, which was the main point of the bull run. This is a zone, not a level. It is between $ 29,000- $ 31,000, taking all the weeks. Now it is testing the zone as resistance.”

Capo also highlights that Bitcoin has broken down from a bear flag and is on its way to its bear market goal.

“The minimum target for the bear flag has not yet been reached $ 23,000. You can also see this on altcoins, where some of the main targets have not yet been reached,” he added.





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