The crypto strategist who accurately predicted crypto’s 2022 crash now sees Bitcoin (BTC) bouncing with a major catch.
Pseudonymous trader Capo tells their 575,800 Twitter followers that they still think BTC will bounce as high as $21,500 after Fed chair Jerome Powell’s speech yesterday announcing another interest rate hike.
“No changes with the Powell speech.
$21,000-$21,500 and then new lows.”
With BTC going for $20,249 at time of writing, a move to $21,500 would represent a bounce of 6%. But the catch is this – Capo thinks the king crypto hits new lows soon after.
Capo re-iterated the bounce prediction hours later and then restated his forecast again hours after that.
“Good morning!
Bitcoin bouncing from the $20,000 support, where a lot of shorts entered. Altcoins bouncing stronger.
$21,000-$21,500 is likely…
BTC about to bounce.”
Yesterday, Capo also provided a marked-up chart to support their strong prediction of BTC reaching the $21,500 “hammer zone.”
“The initial liquidity take to the downside has been key.
Send it to $21,000-$21,500.”
Moving on to the little-known identify verification blockchain token Litentry (LIT), Capo predicts an 80% flare-up from LIT’s current price of $1.27.
“LIT update
Breaking resistance. 110% since entry
Trailing the [stop loss] in profits. Main target remains $2.28.”
Litentry is a decentralized privacy-based identity verification infrastructure. It allows participants to use tokens to aggregate identities from other chains. LIT holders are able to participate in governance.
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Featured Image: Shutterstock/sdecoret/David Sandron