A closely monitored crypto strategist who accurately predicted Bitcoin’s correction below $ 30,000 says it’s almost time for BTC to collapse to fresh 2022 lows.
Pseudonymous analyst Capo tells his 425,900 Twitter followers that the top cryptocurrency after the market value’s inability to stay above the psychological key price range of $ 20,000 suggests that another sale event is imminent.
“It’s time … This is exactly what happened. Support for resistance flip, another bull trap. Strong rejection and the right to new downturns. “
Capo says that Bitcoin seems to fall below its annual lowest level of around 17,600 dollars.
“BTC: more accurately estimated roadmap for the potential local bottom formation around $ 16,000.”
Based on Capo’s chart, he expects Bitcoin cards to correct below $ 16,000 before starting a sharp rise above $ 20,000 and regaining the price level in support.
Capo also adds that his expected BTC correction could lead to a massive devaluation in the altcoin markets.
“Expect 45-50% drop in altcoins from current prices.”
Capo, which has been bearish on the royal crypt since April when it traded close to $ 50,000, sier that he will join the ranks of BTC bulls when the bottom is in.
“I have become the nightmare of the bulls, but soon I will be the nightmare of the bears.”
Bitcoin is changing hands at $ 19,170 at the time of writing.
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