Top Analyst Crypto Capo Warns Of Further Downside For Bitcoin

A popular crypto analyst and trader known as Crypto Capo, is issuing warning that Bitcoin (BTC) could see further downside ahead.

The analyst shared with his 337.4K followers on Twitter that his BTC chart analysis might bring good news for Bitcoin bears, but not so good news for the bulls.

“No, this is not bullish.”

No, this is not bullish. pic.twitter.com/P8CIkxGU2O

— il Capo Of Crypto (@CryptoCapo_) June 8, 2022

Crypto Capo refers to a chart he posted on May 2, asking: “how long do you think the ascending channel support will hold?”

The analyst stands behind his predictions from May, believes that BTC’s imminent price drop could bring down to around $22,000.

“This idea remains the same.”

This idea remains the same. https://t.co/i43hGzjL9P pic.twitter.com/X6an5Fxpvd

— il Capo Of Crypto (@CryptoCapo_) June 9, 2022

Capo also says “the last leg down” for Bitcoin could happen very soon. His analysis is based on fractals and Fibonacci time extensions, mathematical technical analysis tools that are useful for helping traders predict price targets.

“Based on fractals and Fibonacci time extensions, last leg down (capitulation) could start today. 

All this range is pure noise to trap more longs.”