An analyst who correctly predicted the collapse in the crypto market in 2022 warns that Bitcoin and Solana could reach new bottom levels this year.
Watch out for the bull trap in Bitcoin price
Analyst, nicknamed CAPO, said in a statement to the 121,564 subscriber in Telegram, Bitcoin will initially rise up to $ 100,000, but this movement would actually be a fake rise to create a bull trap.
The bull trap is a wrong signal that causes investors to believe that the existence is on the rise. However, this rise soon reverses and the price decreases hard.
According to Capo, Bitcoin will experience a large capitulation process that may decline to about $ 63,000 after this rally.
Fall of the short -term support
Capo says that the price of Bitcoin has fallen below the 84,000 dollars, which is instant support, and that is a negative situation for the short -term bull scenario. However, the analyst suggests that this may be a bear trap. According to the analyst:
“BTC has fallen below 84 thousand dollars. This is not good for the short -term ascension scenario. However, this situation still seems to me to be a bear trap. The indicators and most Altcoin create higher bottoms above high -time supports, in general, in general, I really want to recover 84 thousand dollars.
The bear trap is a misleading movement in which investors think that existence will go to lower levels, but the price shows a sudden rise. At the time of writing this analysis, Bitcoin is traded for $ 82,936.
Expectation of collapse after the rise in Solana
According to Capo’s analysis, Solana is expected to face a similar fate. Analyst thinks that the SOL can make a strong rise towards the range of $ 180-200, but then it may decline to $ 100 with a harsh decline.
The left looks good for rising to the range of $ 180-200.
When the analysis is written, Solana is traded for $ 125. Capo’s estimates reveal important risks and opportunities that Bitcoin and Solana investors should pay attention to. In particular, after the impression that the market is rising, warnings are made that there may be sudden decreases. It is important that investors manage their positions more carefully and minimize their risks, taking into account such forecasts. In particular, the uncertainties in the future of volatil crypto assets such as Bitcoin and Solana continue, while investors are advised to closely follow market movements.
