Capo of Crypto, one of the most bearish analysts of the cryptocurrency market, evaluated the loss of momentum experienced after the Bitcoin price reached the $ 45,000 limit in his last post.
BTC price dropped to $40,600 during the day today, and with the jump it made from here, it is traded at $41,426 at the time of writing this article.
In his previous statement, il Capo said that the Bitcoin price will rise to the level of 43-44 thousand dollars, and if it falls below 40,000 dollars with the decrease from here, there may be a journey to the 30,000 dollar level.
In his analysis today, the analyst said that his previous opinion remained valid and made some additions.
According to the analyst, a distribution pattern range has formed on the Bitcoin chart between $40,000 and $45,000, and from the current level, $44,000-45,000 levels can still be seen. The analyst also stated that various pumps may occur in some altcoins while the BTC price continues to move in this range.
In his statement, il Capo said that if there is a consolidation below $ 40,000, this will be a sign of weakness and his next target will be 30 to 31 thousand dollars.
*This is not investment advice.
