happening in 2022 bitcoin Analyst Capo, who correctly predicted the collapse, conveyed his new views. According to Capo, the latest rally in the markets is probably a “bull trap”. Here is the analyst’s remarkable comment.
Famous for his accurate predictions, Capo predicts a correction in Bitcoin price, despite rising above $ 17,000.
Koinfinans.com As we reported, after BTC surpassed the $ 17,000 level, many altcoin The price also rallied. However, Capo highlighted that Bitcoin price is heading towards a resistance level just below $20,000. According to the analyst, BTC could likely face another drop. The analyst’s bearish forecast is at the $12,000 level. This means a decrease of more than 30% on average.
Look a little further at the picture. Then ask yourself this question. “Why am I getting this level?” You can see that altcoins have been randomly pumped since the beginning of the downtrend. This is exactly why you don’t want to miss the train. You might think it’s a bottom, but no bullish confirmation has come.
NEWS CONTINUES BELOWJust watch. Everything is happening right before your eyes. The bear market trend remains intact. Currently a few broken supports are supported. We’ve seen this before. I DO NOT BUY!”
Capo also predicts a deep drop for the S&P 500 (SPX), which has a tight correlation with crypto markets. He forecasts SPX to drop as low as $3,180 in February before surging higher. At the time of this writing, the SPX had a score of 3,940.
While Capo is bearish, another analyst, Kaleo, thinks the market rally has just begun.
Ethereum Based on its price, Kaleo predicts a rise towards the $1,400 level. ETH was trading around $1,340 at the time of writing.