The analyst, who correctly predicted that Bitcoin will fall from its all-time high to current levels, shared his current forecasts for BTC.
The analyst, known under the pseudonym Capo, expects a rise in Bitcoin price in the near future to his 550,600 followers. told.
“I’m still looking for a short-term uptrend. In my opinion, this is not the time to go into decline.”
In his analysis, Capo identified similarities between the current bear market and the last major BTC bear market, 2018. Along with the graph below, the analyst states the following: used:
“BTC now versus 2018 BTC.”
Koinfinans.com As we reported, Capo foresees a short squeeze for Bitcoin. A short squeeze occurs when the price of an asset rises sharply as many short traders have to close their positions.
“Short squeeze is going to be amazing.”
your followers recently updater Capo is sticking with his forecasts and is aiming for a rise towards the $21,000 level.
“I did not expect this move to go to such lows. I was actually expecting the splash to come sooner.
However, SPX [Standard & Poor’s 500 Endeksi] rising and DXY [ABD Doları Endeksi] is decreasing. BTC is still in support. This could be a big bear trap.
The jump to $21,000 is still in play.”
Finally, Capo puts the final point on his bullish forecast as follows.
“A payback to the $19,000 level would be very bullish.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.