Closely followed trader Crypto Capo came up with his new BTC and altcoin comment. The analyst, who is especially popular for his accurate predictions of the Bitcoin collapse, says he is investing in a Solana-based altcoin. She states that there is a rally expectation in Coin. Here are the details…
Crypto Capo first conveyed his expectations for Bitcoin
The analyst, known as Crypto Capo, tells his 551,000 Twitter followers that the actions of the US Federal Reserve (FED) are affecting the biggest crypto. He says he thinks cryptocurrencies will take a new direction early next month as the Fed approves another rate hike. According to Capo, Bitcoin (BTC) will lead the crypto market correction if the Fed announces a 75 or 100 basis point increase in interest rates.
Capo also explains the reasons behind BTC currently above $19,000. According to the analyst, yesterday’s drop was a divergence rather than a direct price impulse. He says a rally to $21,000 or more is still likely before a dramatic correction at $14,000. The analyst uses the following statements:
Currently, the price is back above $19,000, so a move below this level is considered a divergence (bullish). The request confirms this. There is the catalyst to continue. The short squeeze isn’t over and $21,000 is very likely. Then I’ll go back to the drop and wait for the new lows.
Famous for BTC predictions
$21,000 remains the main target of the trader. However, it is still prepared for a potential breakout of this resistance level with other targets in the mid-$20,000s. He currently thinks $21,000 should act as resistance. On a longer time frame, it says $21,000 should break at the close. In case such a breakout occurs, 21,100 points to $21,200.
As we reported as Kriptokoin.com, the analyst became famous for knowing especially about collapses in Bitcoin. Capo has recently made a call that the largest cryptocurrency will fall to $ 16,000 in the past months. BTC dropped to $17,000, approaching the analyst’s prediction. Also, the analyst correctly predicted that BTC would drop to $50,000 in 2021. In 2020, he knew the critical level of $ 3,500.
Highlights GMT in altcoin market
Looking at the altcoin market, Capo pointed to the popular act-and-win project built on the Solana Blockchain. He says he bought a bag of STEPN (GMT). According to traders, GMT is poised for a massive 42 percent rally from the current $0.58 to $0.84 range. Capo’s chart also points to a strong 248 percent bull run towards the $1.15 area. But before that, it points to a 60 percent possibility of a drop from $0.84 to $0.33. “I just bought a bag of GMT,” the analyst tweeted.
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