The Strategist Who Predicted Bitcoin’s May 2022 Crash Predictions What’s Next For Crypto Markets

The Strategist Who Predicted Bitcoin’s May 2022 Crash Predictions What’s Next For Crypto Markets

A popular crypto analyst who accurately predicted the crash of Bitcoin (BTC) in May 2022 predicts what’s next for BTC and the crypto markets.

Capo crypto trader pseudonym details to his 676,000 Twitter followers what could happen to the crypto markets during the upper and lower time frames.

The upper time frame includes charts from one hour to one day, while the lower time frame includes charts from one minute to 15 minutes. Looking at the BTC chart, Capo says he expects a bull trap during the lower time frame and lower lows and highs during the longer time frame.

He notes that he expects the king of crypto to form a local bottom in the price range of $12,000 to $14,000.

“BTC. Longer time frame: Lower lows and highs after breaking through a monthly redistribution range. Below the June low and at [the] supply area. Lower delay: weak trend caused by a short compression (bull trap). Volume dying. $12,000 to $14,000 remains the main target for local background training.

Source: CryptoCapo/Twitter

According to Capo, the crypto industry is rages with bearish signals, making him think that altcoins could follow BTC’s downtrend and plunge 40% to 50%.

“What I see:

-Bearish retests everywhere.

-Hidden bearish divergences on several timeframes.

-Bounces showing clear bull trap characteristics.

-Supply is coming (a lot)

-People euphoric with prices at $16,000…$12,000-$14,000 [for BTC] is a matter of time.

40-50% decline on average for altcoins.

Another top crypto strategist, Michaël van de Poppe, is also to predict that the king of crypto will meet resistance in the near future, saying he thinks BTC needs to hold the $16,250-$16,400 level to thrive.

“Bitcoins [is] still facing crucial resistance, which he cannot yet break. Slight consolidation in progress. Another test at $16,900 and a very likely acceleration occurs with all the stops to be made.

Aiming for $18,4000.

Must hold; $16,250 to $16,400.

BTC is changing hands for $16,611 at the time of writing, an increase of 1.7% over the past day.

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