No products in the cart.
- Latest
- Trending
ADVERTISEMENT
A veteran trader known for calling the last big bitcoin (Bitcoin) this year’s collapse predicts an imminent bailout rally in anticipation of the Federal Open Market Committee’s (FOMC) meeting on Wednesday morning.
A pseudonymous trader known as Capo told his 525,000 Twitter followers that he expects the Bitcoin and cryptocurrency markets to rebound towards the meeting and eventually drop to continue the downtrend. rice field.
“good morning.
We expect a pre-FOMC deception pump and a continuation of the downtrend thereafter. How high can it go? The first target is 20,300 to 20,600. Beyond that level, it can be between 22,800 and 23,000.
Remember that every bounce is a short opportunity.
FOMC officials are expected to raise interest rates again, which could increase pressure on risky assets such as cryptocurrencies. A fraud pump in cryptocurrency refers to a burst of volatility, often in the opposite direction of the trend, before reversing after trapping or frauding the trader.
After the sudden rally, Capo reiterates that he has set a lower target of $14,000 to $16,000, or up to 27% away from current prices.
“BTC plan”
Outside of Bitcoin, a closely followed analyst also looks to the altcoin market for a massive opportunity to sell.
According to Capo,
After this bounce, I look for massive shorts in altcoins.
At the time of writing, Bitcoin is trading at $19,284, down 72% from its all-time high. Capo’s drop to its lowest target of $14,000 represents a full 79.8% correction from its all-time high of $69,000.
Don’t miss the beat apply To get encrypted email alerts delivered directly to your inbox
check price action
Please follow us twitter, Facebook When telegram
surfing The Daily Hodl Mix
 
Featured image: Shutterstock/sergeymansurov/INelson
