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.

“BTC”.

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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.

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Source: Capo / Twitter

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Featured Image: Shutterstock / Krit Suppaudom

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