A crypto strategist who correctly predicted the Bitcoin price correction below $30,000 thinks BTC crashing to 2022 lows is very close.
The analyst, known by the alias Capo, claims another sell-off is imminent. doing. He points out that this is because the top crypto asset by market cap has failed to stay above the key psychological price area of $20,000.
“The time has come… That’s exactly what happened at work. Turning support into resistance is another bull trap. A strong rejection and straight new bottoms.”
Capo added that the Bitcoin price seems poised to drop below $17,600 as its year-low.
“BTC: More accurately designed roadmap for potential local bottom formation around $16,000.”
According to the chart, Capo expects Bitcoin to briefly correct below $16,000 before starting a sharp rally above $20,000 and reclaiming the price level as support.
Capo also adds that the anticipated BTC correction could lead to a massive crash in the altcoin markets.
“We expect a 45-50% drop in altcoins from current prices.”
Capo, who has been waiting for a decline in king crypto, which has been trading close to $ 50,000 since April, also stated that he will join the ranks of BTC bulls when the bottom comes.
“I have been a nightmare for the bulls, but soon I will be a nightmare for the bears.”
Finally Koinfinans.com As we reported, Bitcoin is trading at $ 19,108 at the time of writing.
You can check the price movements 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.