Important:
I have no affiliation with a token that has been launched using my name. Do not risk your money on such scams that could end in a rugpull. Do not give your money away to individuals without ethical or moral values.
Stay safe.
I have no affiliation with a token that has been launched using my name. Do not risk your money on such scams that could end in a rugpull. Do not give your money away to individuals without ethical or moral values.
Stay safe.
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In a world with such a diversity of opinions and options it's hard to maintain objectivity and rationality. This is especially true on CT, where many opposing interests mix, such as people trying to make money by shilling any project without any fundamental value or even worse, creating memecoins to later dump on their followers as some are doing recently. That's why it's important to distance oneself from the noise and keep a clear head. This way you'll realize that the bear market hasn't ended yet and this rally has likely already come to its end, with memecoins marking the local top before a massive move to the downside.
If instead of focusing on individual movements in a specific period and with specific coins, you zoom out and focus on the global situation, looking at causes and not just effects, you will see that:
-This move up from the lows that has been completely manipulated by entities that have printed BUSD, USDC (and now also TUSD) out of nothing, with the sole purpose of trapping the bulls and distributing higher, knowing of the inevitable end.
-The movement from the bottom of December 2022 is a correction. This movement is also called an internal retracement, bear market rally, wave B/X, bull trap... Some may disagree that this is not a bull trap. However, if ideal conditions are created for the majority of investors to buy and emotionally engage with their bags, while creating bullish sentiment with high expectations, then if prices make new lows this is clearly a bull trap. In fact, this would be the biggest of them all.
-The only purpose of this movement is to turn everyone bullish (they won't achieve it with me), to be able to sell at higher prices and have exit liquidity again.
-Many altcoins have already retraced a large part of this run. Some others are already below the 2022 low. Others are at major supports or retesting these as resistance.
In my opinion we are about to witness a massive capitulation event. Both technical and fundamental reasons are there. The main target for BTC remains $12k (wicks below are not ruled out, but the high time frame close should be around that level). ETH would reach $500-700. Altcoins would drop 60-80% on average, some even more (like BNB as I explained in a previous post).
Therefore, the most logical thing is to stay out of the market, while building short positions (very low leverage since these are mid-term positions) in altcoins that can drop more than the average, and also ignoring any noise that could distract you from the main plan, a plan which is based on knowledge, experience, and rationality. Apply discipline and patience while enjoying life as one should always do.
"All good things come to those who wait."
If instead of focusing on individual movements in a specific period and with specific coins, you zoom out and focus on the global situation, looking at causes and not just effects, you will see that:
-This move up from the lows that has been completely manipulated by entities that have printed BUSD, USDC (and now also TUSD) out of nothing, with the sole purpose of trapping the bulls and distributing higher, knowing of the inevitable end.
-The movement from the bottom of December 2022 is a correction. This movement is also called an internal retracement, bear market rally, wave B/X, bull trap... Some may disagree that this is not a bull trap. However, if ideal conditions are created for the majority of investors to buy and emotionally engage with their bags, while creating bullish sentiment with high expectations, then if prices make new lows this is clearly a bull trap. In fact, this would be the biggest of them all.
-The only purpose of this movement is to turn everyone bullish (they won't achieve it with me), to be able to sell at higher prices and have exit liquidity again.
-Many altcoins have already retraced a large part of this run. Some others are already below the 2022 low. Others are at major supports or retesting these as resistance.
In my opinion we are about to witness a massive capitulation event. Both technical and fundamental reasons are there. The main target for BTC remains $12k (wicks below are not ruled out, but the high time frame close should be around that level). ETH would reach $500-700. Altcoins would drop 60-80% on average, some even more (like BNB as I explained in a previous post).
Therefore, the most logical thing is to stay out of the market, while building short positions (very low leverage since these are mid-term positions) in altcoins that can drop more than the average, and also ignoring any noise that could distract you from the main plan, a plan which is based on knowledge, experience, and rationality. Apply discipline and patience while enjoying life as one should always do.
"All good things come to those who wait."
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CryptoCapo TG
Important: I have no affiliation with a token that has been launched using my name. Do not risk your money on such scams that could end in a rugpull. Do not give your money away to individuals without ethical or moral values. Stay safe.
Friendly reminder.
The token that has been created with my name has no relation to me. His creator is using my fame and impact to dump on his followers and profit, while constantly lying to them.
Stay away from such scams and scammers, because you will end up losing your money.
The token that has been created with my name has no relation to me. His creator is using my fame and impact to dump on his followers and profit, while constantly lying to them.
Stay away from such scams and scammers, because you will end up losing your money.
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CryptoCapo TG
Adding MATIC to my shorts HD chart: https://www.tradingview.com/x/xUqrGNUW/
Adding more to the MATIC short. Avg. entry = $0.96
Same target.
Same target.
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Current positioning:
65% USD
35% mid-term short positions (BNB, TRX, AAVE, SOL, MATIC)
65% USD
35% mid-term short positions (BNB, TRX, AAVE, SOL, MATIC)
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CryptoCapo TG
Friendly reminder. The token that has been created with my name has no relation to me. His creator is using my fame and impact to dump on his followers and profit, while constantly lying to them. Stay away from such scams and scammers, because you will end…
Scam token $CAPO is down 90% from the highs and the person who created it is trying to create another token to keep scamming even more people. Sooner or later it will go to zero because it has zero fundamental value.
I hope you didn't fall for the scam and I hope you don't fall for future scams.
I hope you didn't fall for the scam and I hope you don't fall for future scams.
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BTC update: no changes
Two charts here, hight timeframe and a lower tf. Htf you can see how price has been rejected from the major resistance of 28k-30k, deviating a bit above. Main target is the same, 12k (wicks to 11k are possible). This level would front run 10k, which would be the level that most people would expect if we see a capitulation event.
Ltf you can see how price has broken the bullish structure from December's local low and now it is forming a new bearish trend of lower highs and lower lows, consolidating below the last pivot. A clean break below 25k would be the bearish confirmation, and a reclaim of the 30k-31k level could mean bullish continuation (unlikely scenario).
Altcoins are showing a lot of weakness and this adds confluence to the bearish scenario of BTC. Altcoins would drop much more during the capitulation event because alts/btc charts look very weak, that's why I short them instead of BTC.
Two charts here, hight timeframe and a lower tf. Htf you can see how price has been rejected from the major resistance of 28k-30k, deviating a bit above. Main target is the same, 12k (wicks to 11k are possible). This level would front run 10k, which would be the level that most people would expect if we see a capitulation event.
Ltf you can see how price has broken the bullish structure from December's local low and now it is forming a new bearish trend of lower highs and lower lows, consolidating below the last pivot. A clean break below 25k would be the bearish confirmation, and a reclaim of the 30k-31k level could mean bullish continuation (unlikely scenario).
Altcoins are showing a lot of weakness and this adds confluence to the bearish scenario of BTC. Altcoins would drop much more during the capitulation event because alts/btc charts look very weak, that's why I short them instead of BTC.
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CryptoCapo TG
BTC update: no changes Two charts here, hight timeframe and a lower tf. Htf you can see how price has been rejected from the major resistance of 28k-30k, deviating a bit above. Main target is the same, 12k (wicks to 11k are possible). This level would front…
Htf HD chart: https://www.tradingview.com/x/HDMNejyf/
Ltf HD chart: https://www.tradingview.com/x/DOjUMGTu/
Ltf HD chart: https://www.tradingview.com/x/DOjUMGTu/
TradingView
COINBASE:BTCUSD Chart Image by CryptoCapo_
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CryptoCapo TG
Fundamental reasons: -Binance holds 70-80% of the BNB supply. If they have problems, which is likely they will (CFTC lawsuit was only the beginning), they will have to sell BNB. This is very similar to what happened with FTT. -Price strongly manipulated.…
BNB reminder.
All the shorts in profit except TRX. Expecting bearish acceleration soon.
All the shorts in profit except TRX. Expecting bearish acceleration soon.
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In my opinion, that has been the first part of the capitulation. The test dump. Second part starts when BTC breaks 25k.
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CryptoCapo TG
BNB update Adding more to my short position, which is the biggest one. Current avg. entry: $302 HD chart: https://www.tradingview.com/x/13Rj0NNg/
BNB update
Bad news coming in, and they never come alone. Expecting more bad news during this week, which should make price break the key support (range low, bottom dark zone in the chart). Below there, it could really be a free fall similar to FTT.
Same targets. I wouldn't take profit on the first target, but I would take some profits on the main target if reached and leave part of the position open just in case.
Not financial advice.
https://www.tradingview.com/x/g6EUyOLz/
Bad news coming in, and they never come alone. Expecting more bad news during this week, which should make price break the key support (range low, bottom dark zone in the chart). Below there, it could really be a free fall similar to FTT.
Same targets. I wouldn't take profit on the first target, but I would take some profits on the main target if reached and leave part of the position open just in case.
Not financial advice.
https://www.tradingview.com/x/g6EUyOLz/
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CryptoCapo TG
Adding more to the MATIC short. Avg. entry = $0.96 Same target.
MATIC update
Short doing very well. Same as with BNB, adding several targets.
https://www.tradingview.com/x/VDNjG2gM/
Short doing very well. Same as with BNB, adding several targets.
https://www.tradingview.com/x/VDNjG2gM/
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