Crypto Trader Who Predicted Bitcoin Crash Below $30,000 Says BTC Will Fall Again – Here Are His Targets

A closely watched cryptocurrency analyst and strategist is warning Bitcoin holders that Bitcoin is on the cusp of a new 52-week low.

Merchant Alias ​​Capo tell With 322,300 followers on Twitter, another sell-off is on the horizon for Bitcoin as the cryptocurrency markets continue to show signs of weakness.

“Almost the entire market except for BTC made a new low after yesterday’s bounce, which indicates that it was in fact a bullish trap. BTC is a new incoming low.

Over the past seven days, Bitcoin has managed to trade above $28,400, just above a 52-week low of $26,910. However, Capo warns that the support area around $28,000 is showing signs of demand exhaustion as BTC has seen the price level revise six times in a short time.

“Nothing upside here. This support will not last long.

Source: Capo / Twitter

Once Bitcoin withdraws its immediate support, Capo expects a sharp decline from the bear market target of $21,000-$23,000.


Source: Capo / Twitter

Earlier this month, a crypto strategist accurately predicted that Bitcoin Out Key psychological price level of $30,000 and a statement His thesis on why you think BTC is likely to hit a new annual low.

BTC – some reasons why I believe we will see new lows in the coming days:

BTC has breached the $30K support area, which was the main focus of the bullish run. This is an area, not a level. It’s between $29,000 and $31,000, all wicks taken. Now this area is testing as resistance.

Capo also indicates that Bitcoin broke out of a bearish flag and is now on its way to a bear market target.

“The bottom line for the bear flag is not yet $23,000. You can also see it on altcoins, where some of the key targets have yet to be met.

Source: Capo / Twitter

Check price action

Never miss a thing – sign up to receive encrypted email alerts straight to your inbox

Follow us TwitterFacebook and Telegram

Browse the Daily Hoodle Mix


Check out the latest news headlines

Get alerts

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock / Krit Suppaudom

Leave a Comment