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Trader Who Accurately Predicted 2022 Crypto Crash Updates Outlook on Bitcoin and Ethereum As Volatility Spikes

A broadly adopted dealer identified for calling this 12 months’s crypto crash is warning that the present market bounce will in the end flip right into a lethal fakeout.

The pseudonymous dealer referred to as Capo tells his 563,000 Twitter followers that the massive wave of brief liquidations this week will mark the start of a correction to a brand new leg down for crypto markets.

“BTC

We have now seen the largest brief liquidations in latest months, proving that this transfer is a brief squeeze and that most individuals was positioned to the draw back (therefore the hate I used to be receiving currently)

Now it’s time for the longs to get trapped.”

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Supply: Capo/Twitter

Whereas many merchants are taking the present energy in crypto and fairness markets as an indication of a brand new bull run, Capo has maintained {that a} BTC rally to in regards to the $21,000 stage would happen earlier than costs reverse and crash once more.

“BTC and SPX have reached the primary targets. Now what?

I’m anticipating low time-frame distribution round these ranges, for BTC and ETH. Some shitcoins may have rip-off pumps throughout this time.

Then the massive [hammer] comes.”

With the inventory market staying carefully correlated with BTC as of late, Capo says that the S&P 500 (SPX) can also be set to appropriate once more after what he views as a bear market rally concludes. The dealer predicts roughly a 20% correction within the inventory index right down to the $3,180 stage.

“Goal reached.”

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Supply: Capo/Twitter

At time of writing, BTC is buying and selling at $20,824, up 5.6% on the day.

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