A popular crypto strategist who accurately predicted Bitcoin (BTC) would slice through $30,000 last month says BTC looks poised to capitulate even after its latest rally.
Pseudonymous analyst Capo tells his 335,700 Twitter followers he expects Bitcoin to print a fresh 2022 low once BTC bears take out support at $28,500.
“Clean range. What is happening inside the range and what has happened at the range high shows that this is clear redistribution range. Clean break of the range low = last leg down confirmed = $21,000-$23,000.”
The crypto analyst is standing by his prediction even after Bitcoin managed to reclaim the key psychological price area of $30,000.
“Double hammer, double power. Goodnight!”
Looking at Capo’s chart, the crypto strategist still expects Bitcoin to ignite a sell-off event after BTC failed to breach the range resistance at $31,600.
At time of writing, Bitcoin is changing hands for $31,030, up close to 6% from its 24-hour low of $29,314.
Meanwhile, crypto analyst Inmortal is currently bullish on Bitcoin. The pseudonymous crypto strategist tells his 179,800 Twitter followers he believes Bitcoin is carving a bottom in the form of an ascending triangle.
According to Inmortal, a move above BTC’s triangle resistance at $32,000 could ignite a nearly 20% rally from current prices.
“Consolidation under resistance while making higher lows. IF price manages to find acceptance above $32,000 we could see that long-awaited relief rally. Targets: $34,000-$37,000.”
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The post Trader Who Accurately Predicted 2022 Bitcoin and Crypto Meltdown Says BTC Capitulation Imminent After Recent Rally appeared first on The Daily Hodl.
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- Source: https://dailyhodl.com/2022/06/08/trader-who-accurately-predicted-2022-bitcoin-and-crypto-meltdown-says-btc-capitulation-imminent-after-recent-rally
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