An analyst known to nail the end of the Crypto 2021 cycle estimates that the fall of Bitcoin below $ 80,000 is designed to attract the BTC by thinking that the Haussier market is finished.
The pseudonym Capo analyst says to his 942,200 subscribers on the X social media platform that he thinks that Bitcoin is now a process of sculpture of a cycle half-spare following a substantial correction of his record level of around $ 110,000.
According to the merchant, the BTC dropped to a lower $ 76,000 is a bear trap or a false breakdown which would cause a lively bullish reversal with altcoins leading the charge.
“The bear trap has passed lower than expected, but the local bottom must be in or very close.
A strong relief rebound is probably in the coming days, altcoins should surpass bitcoin. »»
On the Telegram instant messaging platform, Capo says that it is starting to see signs of force for Bitcoin and Altcoins within the lower time.
“Ideally, the BTC must recover $ 84,000 and $ 2,000 for the Haussier pursuit …
Most Altcoins are reaching major support after a strong correction.
Many people sell at these levels. Others expect lower prices.
The funds are very negative, confirming the lowering feeling.
There is a lot of rising liquidity. »»
At the time of writing, Bitcoin is negotiated at $ 82,765 and Ethereum (ETH) is worth $ 1,926.
To support its upward position on altcoins, Capo says that it looks closely at the total2 graph, an alt index which follows the market capitalization of all cryptographic assets excluding bitcoin and stablecoins.
The trader shares a graph suggesting that Total2 managed to retest a crucial support zone at $ 971 billion.
A total graphic2 bruises indicates that the Altcoin market is gathers. At the time of the editorial staff, Total2 is worth 1 billion of dollars after falling at a hollow of 2025 of $ 974 billion.
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