The trader known for accurately calling this year’s big Bitcoin (BTC អ) and crypto market crash says investors are better off being 100% out of the markets for now.
The pseudonymous analyst known as Capo tells his 661,000 Twitter followers that traders bullish on crypto markets are way too early, and should be waiting for another leg down in prices.
Capo says urges everyone to simply stay out of the markets.
I repeat… EXIT ALL THE MARKETS
- il Capo Of Crypto (@CryptoCapo_) ខែវិច្ឆិកា 16, 2022
According to the popular analyst, a series of factors are all ស្របគ្នា។ to suggest a “final capitulation” is just around the corner.
“What I see: -Technicals looking bad (price below June’s low, indicators bearish, funding reset…) -Same bull traps as always, but even weaker. People falling for them. -Comments like ”you are going to miss the train”. Really? This is not over. Final capitulation is likely.”
Looking at Bitcoin, Capo lays out a possible scenario where BTC plummets somewhere between $14,000 and $11,000 before finding support.
"គំនូសតាងមានតម្លៃមួយពាន់ពាក្យ។"
អ្នកវិភាគ បាននិយាយថា that his main target for BTC is $14,000, but that a capitulation wick to around $13,500 or $12,500 is also likely.
សម្រាប់ Ethereum (សាកលវិទ្យាល័យ ETH), Capo predicts the top smart contract platform sees triple-digit price levels before the end of the month. He targets the $700 to $750 range, or up to a 40% drop from current levels.
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Featured Image: Shutterstock/arleksey/Andy Chipus
Source: https://dailyhodl.com/2022/11/16/exit-all-the-markets-says-trader-who-called-the-2022-crypto-collapse-heres-why/