There is news from analyst Crypto Capo, who is famous for his bearish stance in the Bitcoin and altcoin world. He made an important statement on his Telegram page today. According to the analyst, new declines are on the way for BTC. The analyst no longer defends the $12,000 level. He has abandoned this stance. Now he is looking at new levels for himself. Let’s take a look at the analyst’s frightening approach
Bitcoin analysis: An in-depth look at long- and short-term trends
In this analysis, Crypto Capo tries to take a comprehensive look at both long-term (HTF) and short-term (LTF) aspects for Bitcoin. Accordingly, it marks the monthly resistance levels for the cryptocurrency in the high time frame, which it calls HTF. The analyst points to a major ascending channel, an ascending trend line originating from the lows. He also notes the existence of a notable resistance combination, including a key support zone in January and February 2022.
It marks important levels for Bitcoin in the lower time frame, which he calls LTF. Accordingly, it draws attention to the trading range with deviations above the highest level of the range. Currently, the price is trading above the midpoint of the range, which has been tested several times. The first bearish confirmation will come with a decisive break below the $33,000 to $33,500 range in the cryptocurrency.
These frightening levels are within analyst expectations
Considering the emergence of multiple bearish divergences across various time frames, the analyst draws attention to a situation. Accordingly, it emphasizes that the bullish sentiment lacks significant news support. He predicts that critical levels will come for Bitcoin, given the corrective wave and the characteristics of the entire movement from the market bottom, which resembles a bear market rally.
According to the analyst, critical levels for Bitcoin are $ 30,000 to $ 31,000. According to the analyst, it would be logical to expect a potentially lower price movement. Additionally, important confirmations will be crucial in determining the next course of action. The analyst also names his approach in the next period. Accordingly, the analyst points out that the current approach maintains confidence in the overarching plan. That’s why he states that he has adopted the “wait and see” mode for BTC.
Analyst’s prediction did not come true
Analyst Crypto Capo was expecting a $12,000 level for Bitcoin. However, this prediction of the analyst did not come true. Bitcoin approached $36,000 with an impressive increase. cryptokoin.com When we look at it, we see that the analyst is now making new predictions.
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