A trader who accurately predicted the 2022 crypto crash thinks the market will turn bullish.
Anonymous analyst Capo told his 864,100 followers on social media platform X that Bitcoin and altcoins are set to show strength as BTC has reclaimed the psychological price level of $60,000.
“BTC is surging, especially after recovering $60,000-$61,000.
Altcoins also seem to have found their local bottom. I think the best is yet to come.”
Taking a closer look at Bitcoin, Capo said on the instant messaging service platform Telegram that Bitcoin appears poised to surge above $73,200 after breaking through the $65,000 resistance level.
“femalee should expect higher prices. The main target will be the upper liquidity zone (red zone).”
As of this writing, Bitcoin is trading at $67,339.
Capo said he was looking at the OTHERS chart for altcoins, which tracks the total market cap of cryptocurrencies, excluding the 10 largest digital assets and stablecoins.
According to Capo, the altcoin market is expected to continue its upward trend even after other coins turn $240 billion resistance into support.
“ALTCOINS UPDATE:
There was a nice rebound in the Blue Zones.
The next step is to reclaim the green zone cleanly, starting with a bullish price move above the blue line. That would be a signal of strength.”
At the time of writing, OTHERS is trading at $242.914 billion.
Capo is also looking at the underlying assets of the Artificial Superintelligence Alliance (FET), a crypto project that integrates three artificial intelligence (AI)-focused protocols: Fetch.ai, Singularitynet, and Ocean Protocol.
The analyst said FET will show strength after retesting the $1.25 support level.
“A chart is worth a thousand words.”
At the time of writing, FET was valued at $1.46.
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