Crypto Capo’s Market Predictions
Crypto Capo, a market analyst, recently stated via Telegram that Bitcoin
$93,725 could initially surge to a regional peak before experiencing a sharp correction exceeding 34%, potentially dropping to around $60,000. This forecast has created a cautious atmosphere among traders, especially given the recent volatility in prices.
Fragile Ground for Bitcoin
Capo predicts Bitcoin may reach a peak near $98,000 in the short term, but warns that a significant drop could follow. He highlighted that Bitcoin gained 5.1% in the last 24 hours, referring to the current market situation as “the calm before the storm.” He emphasized that it is still too early for traders to consider short positions, suggesting that partial pullbacks in the $94,000-$95,000 range could be evaluated, while currently, long positions appear more sensible. “Shorting here doesn’t make sense,” Capo cautioned, advising traders to remain vigilant. He warned against excessive optimism in the market during periods approaching regional peaks, recalling past instances of abrupt and severe corrections during such times.
Market experts note that Bitcoin is a highly volatile asset, and scenarios involving steep corrections cannot be entirely dismissed. Capo’s forecasts are based not only on technical analysis data but also on observed changes in trader behavior.
Mid-Term Opportunities in ENA and TON
Capo also shared insights on ENA, a synthetic dollar protocol developed on the Ethereum
$1,810 network, suggesting it could recover to the $0.50-$0.55 range. ENA has recently increased by 6% within 24 hours and is now on the radar of mid-term investors. He stated he would maintain his position until August-September but would look for new buying opportunities if a correction occurs.
The current price movements of ENA indicate it is shaping within a widening range technically. This suggests potential gains for investors, along with a cautionary note. Capo’s definition of “mid-term investment” highlights the need for developing alternative strategies in the cryptocurrency market beyond short-term trades.
As for Toncoin (TON), Capo pointed out that a break above the $4.58 resistance could lead to a corrective pullback to around $2.10. TON has shown a positive trend with a daily increase of 2.9%, and technical indicators appear to support the analyst’s warnings. Capo emphasized that TON has a “very clean setup” which aligns well with overall market movements.
For traders, such assessments can significantly influence market direction. However, as the analyst noted, every forecast is subject to market conditions, making it essential for individual trading decisions to be based on personal risk analyses.
