A crypto trader known for predicting Bitcoin (BTC) bottoms warns traders that they are in the middle of another bullish trap.
Capo, pseudonymous crypto analyst recount its 462,400 Twitter followers that BTC bulls are about to get caught in a major trap.
“It’s one of the biggest bull traps of the year, but you won’t see it until it’s too late.”
capo references an April 2022 tweet thread in support of his argument. According to Capo, he manages to correctly call BTC funds time and time again, even when it means going against popular opinion.
“The same is happening now. Worth reading…
Good luck and stay safe.”
In April’s tweet storm, Capo points to his correct capitulation calls over the years, implying that his reasoning backs up his current predictions. He begin in 2018.
” It’s always the same story.
Called for $3000-4000 BTC when the price was $7500. It ranged between $6,000 and $9,500 for 7 months and then reached the final goal.
I had very few followers at the time and you could already see the hate.
The merchant complaints he made the same correct calls in 2019 and 2020.
Called for $7,000-$7,300, $6,000-$6,200, and $4,400-$4,800 as an end goal.
The price started reaching these targets and after a few months it also reached the final target, being the all-time low again.
I had a lot of hate back then.
Piling up the evidence, the pseudonymous trader also said he correctly called the bottom in 2021.
I was calling the bottom and continuation of the bull run to $30,000-$35,000. Most comments expect a drop ($20,000 or even $10,000) and scoff too.
The price fluctuated between these levels for a few weeks and then the bull run continued all the way to $69,000.
The merchant concludes that the markets will always provide opportunities for traders, signing with his supporters until further bearish notice.
“See? There were opportunities in between because the market always gives you opportunities.
If you catch every bottom, every bounce, congratulations. I focus on bigger opportunities, different timelines, and I don’t care about “missing” bounces…
I will not post here again until the bearish scenario is confirmed or invalidated. Good luck and stay safe.”
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