Pseudonymous crypto trader Capo says that Bitcoin (CRYPTO: BTC) is poised to hit a new 52-week low as another sell-off event is insight.
The prediction comes as the crypto market is showing signs of weakness, and as Bitcoin has managed to trade above $28,400, slightly higher than its 52-week low of $26,910.
Capo has warned that the support area around $28,000 is flashing signs of demand exhaustion, as BTC has revisited the price level six times quickly.
Nothing bullish here. That support won’t hold for long. pic.twitter.com/dXHuG9E9IJ
— il Capo Of Crypto (@CryptoCapo_) May 27, 2022
“Almost the entire market except …
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