There has been a rally atmosphere in the cryptocurrency market. The leading cryptocurrency Bitcoin reached the 35 thousand dollar mark with a strong run. In this environment, Crypto Capo, one of the chronic bear analysts, admitted that he did not expect it to break the 31 thousand dollar level. However, the analyst is not yet convinced that the rise has fully begun. Crypto Capo 3 updated its outlook for the altcoin, but maintained its bearish expectations.
Chronic bear analyst admits he was wrong about Bitcoin
The crypto market surprised many with its latest move. One of them was undoubtedly Crypto Capo, who has a chronic bear appearance. The market analyst follows closely because of his accurate predictions. For Crypto Capo’s successful predictions cryptokoin.comCheck out this article by . However, the analyst admits that he did not expect the recent rally in Bitcoin and altcoin prices. In this context, the analyst said the following in his last assessment:
First of all, I would like to congratulate everyone who behaved respectfully and benefited from this move. I appreciate those who deserve it. Secondly, for those of you who have been following some of my altcoin analysis gone wrong, I apologize for any inconvenience I may have caused.
The analyst states that he exited the losing short positions. These are AAVE, SOL, CRO and TRX. He states that those in profit are BNB, MATIC and WAVES. Additionally, the analyst says that he will keep these positions open. After this, Crypto Capo moves on to its analysis for these 3 altcoins in which it remains open.
Crypto Capo: This Altcoin could go very, very bad!
The analyst first looks at BNB, the native token of the giant cryptocurrency exchange Binance. Crypto Capo states that there is no change in previous bearish predictions. In this regard, the analyst makes the following statement:
BNB: No change here. Tested the macro dispersion range and low range several times. So it shows weakness. It continues to decline below $220.
The analyst also evaluates the situation of altcoin BNB against Bitcoin. Crypto Cap notes that it is driving and confirming the spread on the chart against BTC (BNB/BTC). In this context, he says:
The huge liquidity gap below sets the target very, very low. The basics are the same. Binance is facing many problems and it could get much worse.
Two other altcoins where analysts expect a decline: MATIC and WAVES
The analyst then moves on to Polygon’s native token, MATIC. He says that when he looks at the painting from afar, he sees that the dreamlike tendency continues. Crypto Capo explains its current situation on altcoin as follows:
MATIC: When we zoom out, we can see a very clear range. It forms a lower top of the downtrend below the mid-range and against a resistance zone. The clean invalidation reclaims the $0.70-0.75 zone and uses it as support. The initial target remains the low in the $0.29-$0.30 range.
Finally, there is Waves (WAVES), where the analyst opens a short position. The analyst also predicts sharp declines for this altcoin. In this context, Crypto Capo explains its predictions as follows:
WAVES: Compared to the previous analysis, it varies between the same levels. So it’s literally the same. Downside momentum below $1.25 and minimum target below the 2016 low.
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