A widely followed crypto analyst is lighting up a tweetstorm, warning traders that Bitcoin (BTC) has six reasons to go lower.
Pseudonymous trader CryptoCapo упозорава their 315,700 Twitter followers in a six-part thread that there are reasons to believe BTC will hit new lows soon.
“BTC – Some of the reasons why I think we should see new lows in the coming days
1) BTC broke the 30k support zone, which was the main pivot of the bull run. This is a zone, not a level. It’s between $29,000-$31,000, taking all the wicks. Now it’s testing that zone as resistance.”
The trader references a tweet from 10 days ago where he laid out why he didn’t think the $30,000 support level would hold for BTC.
Зашто мислим да ниво од 30к неће издржати?
- Више пута је тестиран, па је сада слабији. Ово је 5. тест
-Нема довољно потражње на овом нивоу (топлотне мапе то доказују)
-Долази од одступања од распона висока + застава медведа
-Притисак продаје је и даље висок пиц.твиттер.цом/пТГтсобткв
- ил Цапо Оф Црипто (@ЦриптоЦапо_) Може 10, 2022
Capo’s second reason podrazumeva a bear flag signal he referenced in late-April 2022. The trader каже the bear flag minimum price level has yet to be reached, another reason to believe BTC will continue lower.
“2) The minimum target of the bear flag hasn’t been reached yet ($23,000). You can also see this on altcoins, where some of the main targets haven’t been reached yet.”
CryptoCapo next looks at Bitcoin funding rates, an asset sentiment indicator, објашњавајући why current rates point to a bottom. He tacks on a Bitcoin open interest (OI) chart for support.
“3) Funding rates have remained neutral/positive all the time. For a bottom to form, you want to see very negative funding rates. We haven’t seen that yet.
Also, OI didn’t show a capitulation candle (no big drop on OI).”
Онда крипто трговац изглед at the Altcoin Perpetual Futures Index (ALTPERP), which tracks the price of a basket of leading altcoins, including Ethereum (ЕТХ).
“4) ALTPERP is in no man’s land. It broke the key level, and the next support is 35-40% lower. This matches with the main targets of most alts and it would make a lot of sense.”
Keeping an eye on stocks, Capo каже a bearish Standard & Poor’s 500 Index (SPX) combined with a bullish US Dollar Index (DXY) are bad omens for Bitcoin.
“5) SPX and DXY SPX is really bearish. It’s breaking supports like butter, and the bearish trend is getting stronger. Meanwhile, DXY keeps making higher highs and higher lows. It broke the previous highs and it’s using them as support now.”
Finally, the crypto trader изглед at BTC heatmaps, an asset liquidity indicator, as the sixth and final reason why he thinks Bitcoin will reach new lows in the coming days.
“6) Heatmaps look bearish.
You can clearly see much more supply than demand, and some of the demand is getting weaker/moving lower.
Some examples below.”
Bitcoin тргује за 29,828 долара у време писања.
Проверити Цена акција
Не пропустите ни један ударац - Пријавите се да бисте добили крипто имејл упозорења која се достављају директно у вашу пријемну пошту
Пратите нас на Twitter, фацебоок Telegram
Сурф Даили Ходл Мик
Изјава о одрицању одговорности: Мишљења изнета у Даили Ходлу нису савети за улагање. Улагачи би требали обавити своју дужну опрему прије него што уложе у високе ризичне инвестиције у битцоин, крипто валуту или дигиталну имовину. Имајте на уму да су ваши трансфери и трговине на сопствени ризик, а за све губитке који могу настати одговоран сте. Даили Ходл не препоручује куповину или продају било које крипто валуте или дигиталне имовине, нити Даили Даили Ходл није саветник за инвестирање. Имајте на уму да Даили Ходл учествује у аффилиате маркетингу.
Featured Image: Shutterstock/Digital Store/Chuenmanuse
Source: https://dailyhodl.com/2022/05/20/crypto-analyst-warns-six-factors-will-drive-bitcoin-btc-prices-lower-in-the-coming-days/