Crypto currency markets are largely unpredictable, which is why even the best analysts typically last only a few quarters. Some experts who read the trends correctly make highly accurate predictions, but their performance declines with trend reversals. In 2021, PlanB and in 2022, Capo were seen as the best crypto analysts, but they hit rock bottom once their periods ended.
Best Crypto Analyst Commentary
Especially since the second half of 2022, the accurate predictions made by Crypto Capo have led to his recognition among the best analysts. He performed brilliantly during the downtrend and predicted correctly until the intermediate rallies. However, his expectation of a deeper bottom has put him in loss for 14 months. While altcoins and BTC were rising rapidly, Capo identified all peaks including the $30,000 breakout as a “bull trap”.
Fortunately, he was convinced of the rise after $40,000 and wrote today;
“Bitcoin is moving liquidity above the $50,000 resistance level by slightly exceeding it. A return below this level would be a clear deviation (probably). Altcoins continue to rise, which is a good thing. No divergence with BTC has occurred yet, but it will happen soon when BTC starts making lower highs. I will take positions with the setups I shared here (AVAX, UNI, SUSHI, HBAR…).”
He also shared the above chart about the dollar index and wrote;
“It has an inverse correlation with BTC, but they usually diverge first (which is happening now, both are rising). This is another reason why I expect BTC to reverse its uptrend soon.”
Will Crypto Currencies Rise?
Capo keeps saying that a major drop will come after BTC makes a new peak. Since the price has held above $40,000, his current projection points to this. Now that he predicts a peak up to $52,000 for BTC, the downturn should start with the test of $52,000. However, since Capo has been wrong for the last 14 months, investors are not too concerned about this view.
“There is a triple bearish divergence on BTC’s four-hour chart. The first confirmation of a drop is below $50,000. The second confirmation of a drop is below $48,500. Even though I think altcoins will continue to rise this week and most should make a new peak, the current movement looks overly extended, and I wouldn’t be surprised to see a 10-15% drop to shake out some positions before the rise continues. My positions are in place, no leverage, so I’ll add more if such a thing happens.”
