The trader who accurately predicted the 2022 crypto crash believes the market is ready to witness growth surges.
An analyst who goes by the pseudonym Capo told his 864,100 followers on social media site X that he is bullish on Bitcoin and altcoins now that BTC has reclaimed the psychological price level of $60,000.
“BTC is on the rise, especially after it rose to $60,000–$61,000.
Altcoins seem to have found their local bottom as well. In my opinion, the best is yet to come.”
Taking a closer look at Bitcoin, Capo said on instant messaging platform Telegram that Bitcoin looks poised to rise above $73,200 after breaking resistance at $65,000.
«We higher prices should be expected. The main target will be the upper liquidity zone (red zone)”.
At the time of writing, Bitcoin is trading at $67,339.
When talking about altcoins, Capo says he looks at the OTHERS chart, which tracks the total market cap of cryptocurrencies excluding the top 10 digital assets and stablecoins.
According to Capo, the altcoin market will continue to rise after OTHERS moved from the $240 billion resistance level to the support level.
“ALTCOIN UPDATE:
Nice bounce from the blue zone.
Now the next step will be a clean return to the green zone, starting with bullish price action above the blue line. This will be a sign of strength.”
At the time of writing, OTHERS shares are trading at $242.914 billion.
Capo also has his eye on the Artificial Superintelligence Alliance (FET), a crypto project that brings together three artificial intelligence (AI)-focused protocols: Fetch.ai, Singularitynet, and Ocean Protocol.
The analyst said he is bullish on FET after it retested the $1.25 support level.
“A diagram is worth a thousand words.”
At the time of writing, the price of FET was $1.46.
Generated image: Midjourney
