Trader: What’s next for Bitcoin, Ethereum, Two Low-Cap Altcoins

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High-profile pseudonymous trader Capo is laying out the path ahead for Bitcoin, Ethereum and two low-cap crypto assets as the entire market struggles to recover from a major correction.

In a series of tweets this week, Capo attempts to sort out what is in store for Bitcoin and Ethereum holders.

After its crash to just above $30,000 on May 19th, Capo reasons that Bitcoin may be preparing to make a V-shaped recovery.

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Capo compares Bitcoin’s recent flash crash to the S&P 500 (SPX) correction in 1987 when SPX rapidly plummeted down from the $340 region to about $215.

After the SPX crash, the chart bounced and put in a new high within a three-year period. If Bitcoin can consolidate above $30,000, reasons Capo, the flagship cryptocurrency may not put in any lower lows from here.

“Disclaimer: fractals are just a help for direction. They don’t always play out. If price consolidates below $30,000 showing weakness, this fractal is no longer valid, and you can expect lower prices.”

dailyhodl.com/2021/05/23/heres-what-could-be-next-for-bitcoin-ethereum-and-two-low-cap-altcoins-according-to-top-trader/

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