Twitter phenomenon and crypto analyst “il Capo of Crypto”, who predicted the May collapse, suggested that the recent rises in Bitcoin (BTC) and cryptocurrencies are a bull trap.
Phenomenal analyst Capo in sharingpossible increases in recent days. a trap warned that it could happen. Pointing out that Bitcoin is at a resistance level, Capo said that cryptocurrencies are at a new level. “preparation before fall” stated that they did. To his followersWhy do you want to buy at this price? Is it because of the fear of missing out (FOMO)??” Asking the question, the analyst said that he could not see confirmation for the rise.
Take a look at the chart from afar and ask yourself: Why am I buying here? Is it because of FOMO? As it has been since the beginning of the downtrend, you see random altcoins pumping randomly and you feel the need to buy. You might think this might be the bottom. However, there is no single confirmation of the uptrend yet.
Capo also referred to the short-lived bullish rallies seen in Bitcoin and many altcoins. bear retest‘I is and from here did not buy expressed.
Capo, who had warned of a decline before May, stood out with correct predictions. Capo was previously the lowest of the current bear market of Bitcoin bulls. from $15,700 He stated that it may have sparked a rally, but that the bounce was significantly smaller than what was seen during Bitcoin’s upward rallies in June.
These short-term rises “dead cat bounce” In his latest analysis, Capo underlined that the trend is still bearish. Bitcoin for $12,000 mentioned the potential for a fall.
