A cryptocurrency analyst that accurately forecasted the significant price plummet of Bitcoin (BTC) and other cryptocurrencies has once again predicted that BTC will retest $1,000 price region.
In a series of tweets, the analyst identified on Twitter as Capo Of Crypto stated that he won’t post anything on Twitter until Bitcoin (BTC) proves his bearish sentiment right with a notable nosedive.
He tweeted, “I won’t post anything else on Twitter until BTC goes below $5,000 or consolidates above $10,500. The bias is still bearish, and the main targets are $2,000 and $1,000 if the distribution is finally confirmed.”
I won't post anything else on Twitter until $BTC goes below $5k or consolidates above $10.5k.
The bias is still bearish, and the main targets are $2k and $1k if the distribution is finally confirmed.
Good luck to you all.
— il Capo Of Crypto (@CryptoCapo_) July 9, 2020
The crypto analyst says a break below $8,500 support in a matter of three days will serve as a confirmation to his bearish sentiment.
$9.8k-10k target reached.
Starting to see some hidden divergences on ltf, with positive funding on the different exchanges.
Consolidation below $9300 and it should go to the range low ($8200-8500). That would be the decision point, in order to know if it's SOW or Spring. pic.twitter.com/ebqFfknu16
— il Capo Of Crypto (@CryptoCapo_) June 4, 2020
He further stated that Bitcoin (BTC) bulls lost control of the market after its failure to invalidate a bullish continuation pattern in late-June 2020.
Do you still think this is an ascending triangle? pic.twitter.com/s81OHpDZBm
— il Capo Of Crypto (@CryptoCapo_) June 30, 2020
However, despite his bearishness on bearish on BTC, he believes that LINK, the native token of Chainlink has managed to detach itself from the sovereignty of Bitcoin price trend.
He stressed that Chainlink (LINK) is poised of starting a huge rally despite its 346% price gain it has recorded year-to-date.
He tweeted, “I’m not gonna brag about this one, just so you know the bullish alternative was there and the bearish analysis for LINK is invalidated for now.”
— il Capo Of Crypto (@CryptoCapo_) July 8, 2020
Capo Of Crypto’s Accurate Prediction about Bitcoin (BTC)
Back in January, when Bitcoin was very close to breaking above $10,000 resistance level, Capo Of Crypto made a call that BTC will only bottom at $4,500 instead of an uptrend consolidation.
His prediction came to pass in March 2020, after the largest digital currency made a shocking nosedive to $3,850 amidst the panic sell-off initiated by coronavirus pandemic.
— il Capo Of Crypto (@CryptoCapo_) January 11, 2020
Bitcoin (BTC) in the Market
Over the past few days, Bitcoin (BTC) has been hovering above $9,000 support level. Despite the huge move printed by a number of Altcoins such as Cardano (ADA), Chainlink (LINK), among others, BTC has maintained its lackluster growth.
At the time of filing this report, BTC is trading at $9,188.31, with a 0.72% price downtrend in the last 24 hours.