A crypto analyst closely followed by the crypto community; Bitcoin (BTC), Ethereum (ETH) and he believes the other two altcoins will bottom out and then turn into bull trends.
Known in the market as Capo, the analyst has 232,000 Twitter followers; the two largest cryptocurrencies BTC and ETH, as well as smart contract platforms Left (LEFT) and Cardano (ADA) also informed about which levels it will reach potential bottoms.
“Potential bottoms:
BTC: $40,000,
ETH: $3,000,
ADA: $1.02,
LEFT: $125.”
When it comes to Bitcoin, the analyst says he believes there will be a scenario where BTC drops slightly below $40,000 before making a sharp jump and retracing the $50,000 level.
“I expect something like this for bottom formation.”
The blue line is $40,000.”
According to Capo, Bitcoin’s current price range offers an entry opportunity that could eventually become one of the most important trade entry points of 2022.
“I buy between $40,000 and $45,000. This is by far one of the best buying opportunities for this year.
A consolidation of less than $40,000 proves me wrong.”
As for Cardano, Capo thinks ADA will continue to drop below current prices and approach the $1.00 range before reversing the trend.
“ADA is breaking support and going straight into buying territory.”
In support of the Bullish outlook, Capo made a Cardano forecast last month, which ADA predicts will rise 600 percent more than current prices. The analyst believes that if ADA can maintain the $1.00 level, a rally to $10 is possible in this market cycle and states that those who hold their investments despite the jerky price action will triumph.
“Victory awaits the survivors… Second retest of previous ATH.
As long as it stays above this level, the next level should be the $3-4 level (the last ATH level). If it consolidates above that, we will probably see the $10 level.”
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.