Capo of Crypto, an analyst known for his bearish views on the cryptocurrency market, claimed in his statement that there are two options for the Bitcoin price.
According to the analyst, BTC price is currently in a support zone. The analyst argues that the first option for BTC is for it to jump from the current level to the liquidity zone of $74,000 to $75,000 and then make a downward move.
According to the analyst, the second option is a clear break from the current support level between $68,000 and $69,000 and a consolidation in the lower region.
il Capo said that $68,000 to $69,000 is an extremely critical area. According to the analyst, if this level is broken, the market structure of Bitcoin will be broken. However, the analyst noted that this level has been successfully acting as support so far.
In addition, the analyst, who shared a chart, claims that both options will eventually result in the BTC price falling below $ 60,000.
*This is not investment advice.