A top crypto trader who has increased his following after accurately predicting the biggest Bitcoin crash of last year is keeping an eye on five altcoins.
The entire crypto market crashed this week, shedding around $ 1 billion in value, but the analyst known in the industry as Capo says he stayed calm.
In a series of tweets, Capo explains to his 66,000 followers why he is still optimistic about Bitcoin and the overall market.
“BTC. I don’t understand the panic. This has always been an option. Hidden bullish divergences are already in place. Could it go a little lower ($ 50,000)? Sure, but the plan is exactly the same. I do not sell …
Open Interest Down + Price Down DURING the bull trend is bullish. Healthy retracements (shakeouts). “
The trader notes that Bitcoin is likely testing $ 50,000 as support and expects the king coin to rebound and exceed the $ 80,000 level in the coming weeks.
“The funny thing is that we’re testing $ 50,000 as support. Think about it … I’m not selling. Within a few weeks the price will exceed $ 80,000, Altcoins will be flying and you will regret selling here.
The jump will be epic. The bull market is not over yet. Remember these words. “
As the market prepares for a rebound, Capo is also bullish on Ethereum (ETH), Syntropy (NOIA), Phala Network (PHA), Reserve Rights (RSR) and Paypolitan (EPAN).
The trader believes that the second largest crypto asset by market capitalization is currently in an accumulation phase and may be preparing for a rally.
Reaccumulation tbh. pic.twitter.com/GSYyS8PRLn
– il Capo Of Ethereum (@CryptoCapo_) March 22, 2021
As for RSR and EPAN, the trader notes that their charts are right on track for a wildly bullish April that could make the tokens parabolic.
Capo also named NOIA one of the top projects in space, adding that his NOIA bags will be ready when he charges PHA during the dive.
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Featured image: Shutterstock / Tursunbaev Ruslan