Bitcoin (BTC) and Altcoins Are Gearing up for Bullish Continuation, Popular Analyst Capo Predicts

An analyst who became popular after accurately calling the 2022 crypto meltdown believes Bitcoin (BTC) and altcoins are gearing up for bullish continuation.

A crypto analyst who rose to prominence after making the bold call on the 2022 crypto crash is now sharing his thoughts on Bitcoin (BTC) and altcoins, predicting a bullish continuation.

The pseudonymous analyst, known as Capo, is keeping a close eye on a key resistance level for Bitcoin.

“A pullback to the $64,000-$65,000 level would be healthy before bullish continuation.”

At time of writing, Bitcoin is trading at $64,370, down over 2% in the past 24 hours.

Capo is also watching the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the top 10 digital assets and stablecoins.

The trader anticipates OTHERS pulling back to $220 billion before breaking out its immediate resistance at $240 billion.

“After giving the first bullish confirmation by breaking the downtrend from March, it’s now testing the major pivot level as resistance. We could expect some retracement here as the market gets ready for October, which historically tends to be a bullish month. This short-term pullback would align with BTC testing $65,000 (or slightly lower) as support.

With that said, and as mentioned before, any potential dips are for buying.”

Based on the trader’s chart, he seems to be predicting that OTHERS will rally past $270 billion after a brief correction. At time of writing, OTHERS is trading at $228 billion.

Capo also shares his thoughts on crypto for the next month.

“Expecting a bit of overall retracement/consolidation during these days, warming up for October. Great things coming.”

The above is the detailed content of Bitcoin (BTC) and Altcoins Are Gearing up for Bullish Continuation, Popular Analyst Capo Predicts. For more information, please follow other related articles on the PHP Chinese website!