Il Capo of Crypto, one of the most followed names in the cryptocurrency world and generally known for his bearish analyses, shared his new views with his followers after the decline in Bitcoin.
BTC price has fallen approximately 4% today and is trading at $69,000 at the time of writing.
In his statement, il Capo claimed that yesterday's upward movement was completely reversed and now all eyes are on below $60,000, a level he had previously announced. According to the analyst, liquidity in this region may be tested.
However, in another newly shared chart, il Capo also touched upon his thoughts on the long-term price movement of BTC. According to the post shared by the analyst, the BTC price will initially fall from its current level to the liquidity zone below $ 60,000, and its reaction from here will be important for its future course.
According to il Capo, with the recovery after falling below $60,000, the Bitcoin price may reach the level of $74,000 to $75,000 and renew the record for the highest price level of all time. However, the analyst expects a decline again after this temporary rise and claims that with a decline below $ 60,000, there may even be a decline below the $ 54,000 level in mid-May.
*This is not investment advice.