Crypto Analyst Capo Predicts Bearish Times For BTC, ETH, LUNA, FTM And ADA
A popular crypto market analyst and trader, outlines scenarios for Bitcoin (BTC), Ethereum (ETH), Terra (LUNA) Fantom (FTM) and Cardano (ADA) and draws his bearish targets.
Bitcoin (BTC)
The analyst, known in the crypto space as Capo, shared with his 253.4K followers on Twitter followers that he projects Bitcoin to start a large correction end of this month.
Capo shared a chart model showing a model of as large symmetrical triangle pattern which he believes. BTC is following at the moment. After it goes down, the analyst targets Bitcoin between $21k and $23k.
The analyst projection is based on Bitcoin not being able to break through its main resistance at $45,000 and $46,000 levels.
At the time of writing, BTC trades at $44,680, up 1% on the daily chart.
Ethereum (ETH)
Capo then looks into Ethereum (ETH) targets a price drop to $1,100 and $1,300 assuming that support doesn’t hold at $2,000.
“ETH Mid-range acting as resistance after deviation above range high and pivot completely broken.
At the time of writing ETH trades at $3,150, up 1.8% on the daily chart.
Terra (LUNA)
Looking into Terra (LUNA), Capo draws a key level to follow at around $104.
According to the analyst, if LUNA is able to break the level it could rise to $133 levels, but in a more likely scenario it will be rejected $97, and falls down to $40-$45 area.
At the time of writing, LUNA trades at $91.38, up 1.2% on the daily chart.
Fantom (FTM)
Looking into Fantom (FTM), the analyst expects FTM to go down to $0.60 by, then recover to current levels, before falling all the way to $0.20 by the end of the year, before starting a recover towards new all time highs.
“FTM
-Bullish market structure broken and now retesting the pivot as resistance
At the time of writing, FTM trades at $1.40, up 4.5% on the daily chart.
Cardano (ADA)
Regrading Cardano (ADA), Capo replies to a comment from a follower – who complained that he missed a buy opportunity at $0.80 – saying that he will turn bullish on ADA at $0.15.
“Bullish on ADA from $0.15. Bearish on ADA from $2.58. And this is not financial advice.”
