The trader who accurately predicted this year’s cryptocurrency crash says a bitcoin rally is inevitable – here’s his perspective.

The trader who accurately predicted this year's cryptocurrency crash says a bitcoin rally is inevitable - here's his perspective.

A widely followed Bitcoin (BTC) analyst who predicted a BTC crash in 2022 is spotting a potential bear trap in the bushes.

The Capo pseudo-cryptocurrency trader said their 547,900 Twitter followers that the US Dollar Index (DXY) and traditional stocks are setting up for a BTC recovery.

“DXY bounce looks weak and wants to spill again.

SPX for support.

BTC looks good for $20,500-$21,000. »

The crypto queen is down 2.5% in the last 24 hours and is currently trading at $19,555. However, Capo believes that the crisis is nothing but a “bear trap”. signs that a bounce is inevitable for BTC.

“Bear trap… an inevitable rebound. »

Turning to the graphs, Capo said BTC’s low timescale (LTF) target remains at $21,000.

« BTC LTF

Same plan. Price is at support and late long positions are liquidated.

The main target for the local top remains $20,500-$21,000.

Bearish Confirmation: Clear Break of $19,000. »

Capo has too looks like on BTC sentiment to support his Bitcoin recovery hypothesis.

“Sentiment is ultra bearish even as price continues to print higher lows on LTF.

A rebound is very likely. »

While the largest cryptocurrency by market cap is down almost 3% in the last day, Capo still has said all losses from today will be recovered.

“Today’s dumping will be completely reversed.” »

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