Imminent Significant Drop in Bitcoin Forecasted as Per Crypto Expert if Price Drops Below Crucial Support Threshold
In a bold warning, the renowned yet mysterious analyst Capo – a crypto titan on the social media platform X – has outlined a potential danger for Bitcoin (BTC). If the digital gold fails to hold the key support level at $92,000, it might plunge a staggering 37% and crash to $60,000.
Capo's prediction comes as BTC bounced back from a low of $75,000 in April, hitting the $92,000 to $98,000 area he identified earlier. Here's a simple breakdown of his analysis:
- If Bitcoin can stay above $92,000 - $93,000, it's bullish, but it'll face a strong resistance at $96,000 - $98,000.
- If Bitcoin sinks below $92,000, it's bearish and could face a severe sell-off.
Looking at his chart, Capo suggests that the current distribution at these levels could temporarily boost altcoins. However, he plans to take profits soon. Bitcoin is currently trading at $96,608, up 2.6% in the last 24 hours.
Moving on, Capo turned his attention to Render (RENDER), a GPU rendering network altcoin. He shared his optimism with his 125,860 Telegram subscribers, saying that Render has reclaimed the $4.25 level and is poised to hit $6.58 next. Render is currently trading at $4.65, up 4.7% on the day.
The crypto landscape is dynamic, andCapo's insights provide valuable perspectives for both new and seasoned investors. Stay tuned for more updates as the crypto market continues to evolve. Don't forget to follow us on X, Facebook, and Telegram to stay ahead of the curve.
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- Capo's warning about Bitcoin (BTC) suggests that if it fails to hold the key support level at $92,000, it could plunge 37%, landing at $60,000, potentially indicating a bearish trend.
- Capo's analysis also hints at a temporary boost for altcoins due to the current Bitcoin distribution at the $92,000 to $98,000 level, but he plans to take profits shortly.
- Moving from Bitcoin, Capo shares his optimism about Render (RENDER), a GPU rendering network altcoin, predicting it will hit $6.58 next, currently trading at $4.65.
- With the dynamic nature of the crypto landscape, insights like Capo's offer valuable perspectives for both new and seasoned investors amidst the ongoing deglobalization in finance, making it crucial to stay updated through platforms like X, Facebook, and Telegram.
