Trader Issues Bitcoin Alert, Says There’s Still ‘Underlying Weakness’ Despite BTC Bounce – Here Are His Targets
A closely followed crypto analyst is issuing a warning, saying that Bitcoin (BTC) is still showing weakness despite recovering from its latest dip. In a new strategy session, pseudonymous crypto trader Crypto Capo tells his 922,500 followers on the social media platform X that the top crypto asset by market cap could dip to a price tag of between $88,000 and $90,000, noting that altcoins could take a hit as well. “Despite the strong market bounce after the capitulation event, there’s still some underlying weakness. I’ve reopened the hedge position until we see proper bullish confirmations or a second dip, which might bring BTC down to around $88,000-$90,000. Some altcoins could drop another 10%-30%, with some forming higher lows and others grabbing liquidity below the wick. Even if this happens, the plan remains the same: hold/buy the dip. An important local bottom should be very close.” The trader’s chart appears to indicate that t...