{"id":1374,"date":"2022-10-18T05:19:26","date_gmt":"2022-10-18T05:19:26","guid":{"rendered":"https:\/\/cryptoteambuild.com\/blog\/learn-why-a-well-known-analyst-il-capo-of-crypto-is-bullish-on-bitcoins-btc-price\/"},"modified":"2022-10-18T05:19:26","modified_gmt":"2022-10-18T05:19:26","slug":"learn-why-a-well-known-analyst-il-capo-of-crypto-is-bullish-on-bitcoins-btc-price","status":"publish","type":"post","link":"https:\/\/cryptoteambuild.com\/blog\/learn-why-a-well-known-analyst-il-capo-of-crypto-is-bullish-on-bitcoins-btc-price\/","title":{"rendered":"Learn Why a Well-Known Analyst, il Capo of Crypto, is Bullish on Bitcoin\u2019s (BTC) Price!"},"content":{"rendered":"
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The markets have improved to some extent as the price of Bitcoin<\/a> (BTC) has surpassed $19,500. For nearly a week, the price traded in a narrow range between $19,000 and $19,500, occasionally testing lower support below $19K. Although the overall outlook for the asset remains bearish, a significant upswing may be expected in the short term.<\/p>\n

Given that, is now a good time to buy Bitcoin? Find out what Capo, a well-known analyst, thinks!<\/p>\n

In a series of threads, Capo explains why Bitcoin won’t drop another 50% after reaching lower highs, as it did in 2018. <\/p>\n

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There are a lot of people posting this 2018 fractal these days. However, they think price should keep making lower highs and then dump 50% like in 2018, and they are ignoring the fact that fractals indicate major direction, but not ltf PA nor breakout %. https:\/\/t.co\/2ZuTcsUm02<\/a><\/p>\n

— il Capo Of Crypto (@CryptoCapo_) October 17, 2022<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

Firstly, the BTC price<\/a> has been constantly testing the lower support between $18K and $19K and has bounced each time it tests these levels. However, the bounces are getting weaker & weaker, which indicates the dropped buying power as the bears are constantly pushing the prices down. Therefore, these support levels may eventually break very soon. <\/p>\n

Considering price analysis, the next major support levels after breaking down from these levels could be $13K to $14K. However, the price is not expected to drop straight to these levels as the current trend is bullish in the short term. Hence a short-term bounce towards $21,000 as the fundings remain negative which may further continue to squeeze shorts. <\/p>\n

Overall, the main trend of Bitcoin continues to remain bearish while the local bottom may be around $14,000. As the short-term trend is pretty bullish, the BTC price may rise high, but at the same time, the altcoins could undergo massive jumps that may not last long. <\/p>\n<\/div>\n

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The markets have improved to some extent as the price of Bitcoin (BTC) has surpassed $19,500. For nearly a week, the price traded in a narrow range between $19,000 and $19,500, occasionally testing lower support below $19K. Although the overall outlook for the asset remains bearish, a significant upswing may be expected in the short term. Given that, is now a good time to buy Bitcoin? Find out what Capo, a well-known analyst, thinks! In a series of threads, Capo explains why Bitcoin won’t drop another 50% after reaching lower highs, as it did in 2018.  There are a lot […]<\/p>\n","protected":false},"author":1,"featured_media":1375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[552,553],"_links":{"self":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/1374"}],"collection":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/comments?post=1374"}],"version-history":[{"count":0,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/1374\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media\/1375"}],"wp:attachment":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media?parent=1374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/categories?post=1374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/tags?post=1374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}