Accurately calling this year’s crypto market crash, crypto analysts are warning of new lows for digital assets this month.
The pseudonymous trader known as Crypto Capo To tell His 573,000 Twitter followers say several market conditions indicate that the price of Bitcoin (BTC), Ethereum (ETH) and other altcoins will crash in November.
He says the US Dollar Index (DXY) is flashing bullish and the S&P 500 (SPX) is facing resistance. Both of these are important signals for a crypto bear market. He also claims that altcoins have experienced artificial price increases in recent times.
“Market Update. DXY bullish. SPX is at major resistance and showing bearish signs. BTC and ETH form the top. We will protect your profits.We are likely to hit new lows in November.”
Looking at Bitcoin, Capo Predict The price level reversed at $20,000 support and resistance before falling to $14,000 this month. He said Bitcoin could fall after reaching a high of $21,000 this month. As of this writing, Bitcoin is trading at $20,425.
“Expect something like this. A potential last push to $21,000 at the triple top, trapping longs on the diagonal. /Resistance) Flip.Main goal after confirming bearish: $14,000.”
caponext Predict ETH falls from its highs of around $1,600 to the $700-$800 price range. At the time of writing, Ethereum is trading at $1,577.
Looking at Capo’s Shitcoin Index Perpetual Futures chart, he Predict Index Capture could drop from the current index price of $2,344 to around $2,150.
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