CandleFocus il Capo Shares What to Expect After Bitcoin’s Slight Recovery
2024-10-05
Author: Content Editor
Il Capo of Crypto, a prominent figure in the cryptocurrency market, analyzed the recent rise in the market and referred to it as a "dead cat bounce." He mentioned the possibility of a final shakeout before the altcoin season begins if there is no clear confirmation in favor of the bulls. Despite this, he revealed that he still holds an altcoin basket and hedge positions as part of his plan. Il Capo also shared a chart that suggests Ethereum's price may be following a Wyckoff Accumulation model, predicting a potential bounce for Bitcoin after a drop to $2,000 and a subsequent jump to $3,500. In the past, he compared the current situation in Bitcoin to the consolidation before the Covid crash and advised caution. As of now, BTC is trading at $62,198.
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