New evaluations came from analyst Crypto Capo, whom we know with his bearish approaches to Bitcoin in the cryptocurrency market. The analyst announced that he had now put aside his previous views. It is now setting new trajectories for BTC.
New Bitcoin levels from analyst Crypto Capo
The analyst wants to evaluate bearish divergences and key price levels in the crypto market. For this reason, he had previously stated that Bitcoin would definitely reach the level of 12 thousand dollars. However, the latest price action in BTC disappointed the analyst. That’s why the analyst is now looking at new levels. He’s trying to chart a route for the future.
Downtrends in the Bitcoin BTC market over various time frames are becoming increasingly evident. At first glance, lower time frames (LTF) appear to resemble a distribution pattern that often signals a potential trend reversal. However, it is necessary to be careful and wait for confirmation signals before drawing definitive conclusions.
The analyst is now looking at these levels
Since the analyst is looking at new levels, the important thing in his opinion is to determine the level at which this bull market will be invalidated. According to the analyst, there is an important confirmation signal to watch. This level stands out as the $ 33,500 level. According to the analyst, it needs to fall decisively below the $ 33,500 price level. After this move, lower levels are likely to come for Bitcoin.
According to the analyst, if such a move occurs, there will potentially be a further downward move. Thus, it is possible for Bitcoin to reach 30,000 levels. However, before that, Bitcoin will reach $ 31,000 levels. This means that BTC’s rally position is weakening. For this reason, analysts attach great importance to the range of 30-31 thousand dollars for Bitcoin.
Bear lovers can be happy
Those who try to make a profit in the bear market may be happy with these comments of the analyst. However, according to the analyst, the important thing here will be to watch how the price reacts in the above range. This reaction will determine whether the recent upward move for Bitcoin from $30,000 to $35,000 was just a divergence or a true breakout.
The analyst’s new approach to the Bitcoin price attracts attention in the cryptocurrency market. Accordingly, the analyst’s new approach is frankly a bit cautious. Because his previous approach was invalid. Frankly, this cautious approach demonstrates the inherent volatility of the cryptocurrency market. Moreover cryptokoin.comWhen we look at it from a perspective, it reflects the need for comprehensive analysis before making important trading decisions.