Il Capo of Crypto, one of the most well-known analysts of the cryptocurrency market, shared his new thoughts about Bitcoin, which has slowly begun to stabilize after the recent decline and is currently trending horizontally above $60,000.
In its statement, il Capo argued that the drop below the expected level of 60,000 dollars had occurred and some liquidity had been received, but there was still liquidity waiting to be received. According to the analyst, Bitcoin price may see another downward wave and the price may fall between $57,000 and $59,000.
The analyst justified his prediction of a drop below $60,000 with several indicators. According to il Capo, he cited events such as the observation of bear divergences hidden on BTC charts with many different time frames, SPX making a new local bottom and DXY making a jump, as the reasons for a possible decline below $ 60,000.
However, in the short-term target map he shared, il Capo claimed that the BTC price could make an upward movement from these levels and move its price to around $65,000.
*This is not investment advice.