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.


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.

Source: Capo/Twitter

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