Crypto even analyst il Capo published a weekend update covering Bitcoin and Ethereum in his latest statement.
According to the analyst, Bitcoin price has been moving within a descending channel on its long-term chart since March 2024. il Capo reported that BTC is currently hovering between $63,000 and $65,000, which is a major resistance zone according to this channel.
The analyst said that he thought the rise in Bitcoin price, which came after it fell to $ 59,000 and took it to over $ 63,000 at the time of writing, was a “dead cat bounce.” According to il Capo, he claimed that a strong potential supply could be added to the Bitcoin market, especially as tensions escalate in the Middle East.
According to the analyst, the nearest resistance on the downside lies between $48,000 and $50,000. In the event of such a decline, the analyst stated that these levels correspond to $ 1,800 to $ 2,000 when evaluated on an Ethereum basis. However, interestingly, il Capo argued that these levels could be a buying opportunity for the entire market.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/deneyimli-analist-il-capo-bitcoin-ve-ethereum-icin-hafta-sonu-guncellemesi-yayinladi-iste-bekledigi-seviyeler/
