Following the sudden decline in the cryptocurrency market today, Capo of Crypto, one of the most well-known analysts in the market and described as legendary by some, published a statement about Bitcoin.
Bitcoin price dropped almost 5% today and fell to $66,123. The decline in question was also felt on the altcoin side. Altcoins also experienced a decline at approximately similar rates to BTC.
In his last post, analyst il Capo of Crypto declared that the $67,000 level, which is of extremely high importance in his opinion, was broken downwards. However, despite this, the analyst thinks that demand still remains strong.
On the other hand, touching on his scenarios and expectations, il Capo stated that exceeding the current level of $67,000 again would be in favor of the bulls. In addition, he said that the $65,000 level is another strong support point.
According to the analyst, when the metrics are examined, the more likely scenario is that the $ 67,000 level is exceeded again, and this price movement will mean a deviation. The analyst also stated that his current position is “wait and see”.
*This is not investment advice.