- Youtuber expressed his unbelief in Capo’s prediction of BTC crashing to $12,000.
- BTC had a dodgy start to the week, then consolidated before crashing.
- If BTC’s newly established uptrend continues, then, it could reach $30,000.
Crypto Youtuber Crypto Rover expressed his unbelief in a prediction made by Capo. Capo’s prediction forecasted that Bitcoin would drop to $12,000 before spiking again. This meant that BTC could break the support level at $25,200 and thereafter break the support at $19,000-$20,000 before reaching the $12,000 level. It could have either been his expert technical knowledge or his strong faith in BTC that could have created this unbelief in Rover.
When considering the behavior of BTC during the past week, it was priced at $27.65K when the markets opened for trading for the week. During the first few hours of day one, BTC gained value and thereafter crashed below the opening market price.
The dawn of the second day brought some hope. BTC started to trade between $27.75K and $28.25K for the next three days while registering its highest price of $28,227 on the second day. Although BTC tried to consolidate on the fifth and sixth day just below the opening market price, it wasn’t able to. BTC started crashing mid-way on the sixth day and kept decreasing until the seventh day. Currently, it is trading at $26,904 after experiencing a decrease of 2.72% in 7 days.
When considering the above chart, it can be noted that there has been a new trend established for BTC. It is currently gaining value and there is a high chance that it could reach $30,000, given that this trend continues. Once, this above-mentioned resistance is broken, then, BTC may try to reach the $31,500.
However, there seems to be some selling pressure building, as such BTC could fall. In the event that BTC is to fall, then, there’s a high chance that it could test the $25,300 level. If the above said support is broken, then, BTC may test the $19,000 level. If more and more traders sell BTC, then it may seek the assistance of $12,000. The Accumulation/Distribution Line reads a value of $10.6M and the line seems to heading downwards. This indicator supports the bearish thesis.
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