Il Capo Of Crypto (CryptoCapo), a popular crypto analyst and trader, thinks Bitcoin (BTC) is poised for another price drop before it bounces back. cryptocoin.com We have compiled the details for you, let’s examine the subject together…
il Capo Of Crypto: Bitcoin may drop below $30,000!
The analyst, known as il Capo Of Crypto (CryptoCapo), tells his 236,900 Twitter followers that he thinks Bitcoin will drop below $30,000 before recovering. BTC is trading at $37,300 at the time of writing, down more than 14% last week and more than 27% last month. However, the analyst believes that the bull market will officially end if Bitcoin consolidates below $30,000. The analyst adds the following to his explanations on the subject:
If it consolidates below $30,000, it’s gone. Consolidation means clean high time frame below this level or a break + return from support to resistance. Right now I’m betting on a bounce from there after a wick under $30,000.
The analyst holds 80% of his portfolio in a dollar-pegged altcoin project!
Looking at the analyst’s chart, it appears that Bitcoin followed the market structure of the S&P500 from 1999 to 2009 over the two-week time frame. If BTC follows the scenario, a move below $30,000 would put Bitcoin in a position to soar to all-time highs. The analyst notes that too much supply has been added to Binance futures, adding to his belief that Bitcoin has fallen below $30,000. The analyst adds the following to his explanations on the subject:
They added a lot of supply to Binance futures… I think it goes under $30,000.
capo, He says that 80% of his portfolio is currently in Tether (USDT), a dollar-pegged altcoin. The analyst believes that if Bitcoin consolidates above $41,000, the forecast below $30,000 will be invalid.
Here are the successful predictions of il Capo Of Crypto
cryptocoin.com As we have previously reported, at the beginning of 2020, il Capo Of Crypto (CryptoCapo) stated that Bitcoin will fall to $ 3,500 and XRP will reach $ 0.11 and pinpointed. In addition, the master analyst also pinpointed $ 0.13 in XRP. il Capo Of Crypto has also accurately predicted some of the big dips that other altcoin projects have seen. For this reason, investors are watching the analyst’s forecasts carefully. Moreover, in a forecast published in August, il Capo Of Crypto correctly predicted that Cardano would drop as low as $1.90 before continuing its bull cycle.
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