Warning from Altcoin Oracle; ‘Bitcoin (BTC) On The Way Down!’

A very closely followed cryptocurrency strategist and trader has warned holders of cryptocurrency giant Bitcoin (BTC) that this famous coin is poised to hit a new 52-week low. Fake trader Capo added to his 322,300 Twitter followers that another selling event is looming for BTC as the crypto markets continue to show signs of weakness.

Over the past week, Bitcoin (BTC) has registered transactions above $28,400, below the 52-week low of $26,910. Ardıdnan Capo warned that the support area around $28,000 is showing signs of demand exhaustion, as he revisits the Bitcoin price level six times in a short time: “Almost the entire market, except Bitcoin, made a new low after yesterday's bounce, showing that it is actually a bull trap. BTC hits new low. There is nothing rising here. This support will not last long. BTC broke the $30,000 support zone, which is the main axis of the bull run. This is a region, not a level. It's between $29,000-31,000 buying all the wicks. Now he is testing the sage for resistance.” After gaining BTC support, Capo predicts a sharp drop in bear market target of $21,000-23,000. Earlier this month, the crypto strategist correctly predicted that Bitcoin would hit the key psychological price level of $30,000, explaining why he believes BTC will likely hit a new year low. Capo also underlined that Bitcoin has left a bear flag and is now on the way to its bear market target, while “The minimum target of the bear flag has not yet been reached at $23,000. You can also see this in altcoins where some of the main targets have not yet been reached.