The crypto analyst, who foretold the Bitcoin collapse from last year, predicts a rally in the coming days. If things go well, the top crypto’s first target will be $23,000, according to the analyst.
Knowing the 2022 crash, the analyst predicted a rally for Bitcoin
You can take a look at the accurate predictions of the popular Twitter analyst Capo here. The analyst with 521,100 Twitter followers says in their latest analysis that Bitcoin broke the cross resistance in the lower timeframe and is now heading towards its $23,000 target. Capo also claims that the breakout occurred as BTC found a local bottom as sales volume dwindled. According to the crypto analyst:
Due to these price movements, I expanded my BTC position. Risk/Reward = 2.75. Its total risk is 3%. The total exposure (BTC+ETH) of my portfolio is 5%. USDT = 95%.”
Capo is confident that his short-term forecast for a Bitcoin rally is correct. Accordingly, the chart above suggests a steep correction for BTC once it reaches resistance at $23,000. Bitcoin has now managed to stay above $20,000, moving sideways throughout the day. Meanwhile, the bulls were reluctant to make a second move as Ethereum price approached the $1,450 support.
Sellers shorting will trigger a rally for Ethereum, Capo says
In the case of Ethereum, the crypto analyst says the rally will be fueled by bears trying to short:
The bears are selling at short-term support. It’s time to destroy them.
According to Capo’s chart, Ethereum will rise to $1,788 by September 21 before falling below $1,500 the next day. At the time of writing, Ethereum was trading at $1,450, which is 23% lower than Capo’s price target.
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