The crypto analyst who accurately predicted Bitcoin’s crash this year says he expects BTC to rally in the coming days.
The pseudonymous analyst known in the industry as Capo tells his 521,100 Twitter followers that Bitcoin has broken out of its diagonal resistance on the lower timeframe and is now en route to his target at $23,000.
Capo also says that the breakout took place as BTC was able to print a local bottom due to selling volume dying off.
Says the crypto strategist,
“Added more to this BTC trade. Risk/Reward = 2.75.
Total risk on this trade = 3%. Total risk of my portfolio (BTC+ETH) = 5% .USDT = 95%.”
While Capo says his short-term prediction for an imminent Bitcoin rally looks good, the chart above suggests a steep correction for BTC after the king crypto meets resistance at $23,000.
At time of writing, Bitcoin is swapping hands for $20,019, flat on the day.
Looking at Ethereum, the crypto analyst also predicts a near-term rally for ETH, which he says will likely be fueled...
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