Crypto Capo, a prominent figure in the cryptocurrency market, has announced new levels for Bitcoin on their Telegram page. The analyst stated that Bitcoin is within an expectation of $40,000 and above, and in this case, short positions cannot be taken.
Crypto Capo provides a current perspective on the cryptocurrency market by highlighting the key indicators and potential scenarios that investors should closely monitor. They draw attention to the market frenzy and excessive confidence reminiscent of March and April 2022.
Commenting on the sensitivity and probability of manipulation in the market, Crypto Capo prefers to refrain from opening new positions under current conditions. Despite the relatively low prices, they note that funds have reached their all-time highs.
Crypto Capo defines the $30,000-$31,000 level as a potential support zone and emphasizes the historical significance of this level. However, if Bitcoin falls below $35,000, they state that the downward trends are confirmed and Bitcoin will drop below $30,000.
According to the analyst, if this situation occurs, the $25,000 support will be questioned due to multiple tests and a trend break, and a potential target of $12,000 for Bitcoin will be seen as a possible route. Considering the current uncertainties, Crypto Capo refrains from opening new positions until further confirmation emerges.