Crypto Trader Who Predicted Bitcoin’s Collapse Below $30,000 Says BTC Will Hit New Low – Here’s His Goals – Reuters

A closely-watched crypto strategist and trader is warning Bitcoin holders that BTC is about to hit a fresh 52-week low.

Trader pseudonym Capo recount its 322,300 Twitter followers, another sell-off is in sight for Bitcoin as crypto markets continue to show signs of weakness.

“Almost the entire market except for BTC hit a new low after yesterday’s bounce, showing that it was actually a bullish trap. BTC new low entering.

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

“Nothing bullish here. This support won’t last long.

Source: Capo/Twitter

Once Bitcoin withdraws its immediate support, Capo predicts a sharp drop from its bear market target of between $21,000 and $23,000.

“BTC”.

Image
Source: Capo/Twitter

Earlier this month, the crypto strategist accurately predicted that Bitcoin go out the key psychological price level of $30,000 and unveiled his thesis on why thinks BTC is likely to hit a new yearly low.

“BTC – Some of the reasons why I think we should see new lows in the coming days:

BTC broke through the $30,000 support zone, which was the main pivot in the bull run. This is an area, not a level. It’s between $29,000 and $31,000, taking all the wicks. Now it is testing this area as resistance.

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

“The Bear Flag minimum target has yet to be reached $23,000. You can also see it on altcoins, where some of the main goals have yet to be achieved.

Image
Source: Capo/Twitter

Check Price Action

Don’t miss a beat – Subscribe to receive crypto email alerts straight to your inbox

follow us on TwitterFacebook and Telegram

Surf the Daily Hodl Mix

&nbsp

Check the latest news headlines

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do 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 any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/Krit Suppaudom


#Crypto #Trader #Predicted #Bitcoins #Collapse #BTC #Hit #Heres #Goals #Reuters