Analysis

Analyst Warns Ethereum Merge Mania Is Blinding Crypto Traders, Says Hammer Set to Drop on Unsuspecting Investors

The Bitcoin (BTC) analyst who predicted crypto’s most up-to-date market crash is reemphasizing an previous warning of latest lows to come back.

On August 2, pseudonymous dealer warned his 475,000 Twitter followers that BTC would bounce to the $25,000 space earlier than crashing to new lows.

“$25,000-$25,500, then new lows.”

With BTC reaching as excessive as $24,750 within the final 24 hours, Capo believes BTC’s new lows are nearer than ever.

“Virtually there.”

Supply: CryptoCapo_/Twitter
Supply: CryptoCapo_/Twitter

Extra particularly, the dealer thinks BTC is about to crash right down to the $16,000 area, slashing Bitcoin by a couple of third from present costs.

“BTC

Quantity is dying. Channels will not be impulses however corrections. 

Most individuals anticipating $28,000 or larger, however the huge degree is $25,000-$25,500.”

Supply: CryptoCapo_/Twitter

The dealer then additional elaborated within the feedback.

“‘Inflation down, bull market is again, merge, mainnets…’ [Crypto trading] is wonderland, the place there’s no threat.

Let me inform you: this can be a bear market rally. Don’t be blind. For those who made some earnings, congratulations. However now could be the time to start out defending them once more.

Final leg up, then [hammer].”

The dealer updated his Twitter followers once more this Friday morning, warning {that a} reckoning is true across the nook.

“One final excessive to rekt early shorts.”

Once more, the dealer attracts out his point within the feedback.

“Fast leg as much as $25,000-$25,500, destroying early shorts and trapping extra longs that anticipate $28,000 or larger. Then reversal to new lows.”

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