After the latest consumer price index (CPI) data beat expectations, the traders who called the cryptocurrency crash of 2022 are warning of a bullish trap.
A pseudonymous crypto trader known as a capo To tell His 685,200 Twitter followers are Bitcoin (Bitcoin.
Despite better than expected, the CPI figure is still relatively high and Bitcoin will not be able to break above the $18,000 price level, Capo said.
CPI in November came in Prices were 7.1% higher than last year and 0.1% higher than last month, but were expected to be 7.3% higher than last year and 0.3% higher than last month.
“CPI beat expectations but still very high. Price is testing a massive resistance zone here and forming lower highs. I am still 100% out of the market.”
Capo said bitcoin is likely to fall to $12,000 heading into 2023. Bitcoin is trading at $17,729 at the time of writing.
the capo too set Ethereum low price target (ethereum) and altcoins.
“Trend remains bearish. Indicator points to full surrender event. Bad news should come soon. ETH $600-$650. Altcoins 50%-70% potential drop (s**tcoins more) Stay safe, things can get really ugly.”
At the time of writing, Ethereum is trading at $1,315.
the capo too weight on Binance Coin (BNB) is the native token of Binance, the world’s largest digital asset exchange, and has recently fallen in value. Capo says BNB has a price target range of $40-$45, with him likely to drop more than 85%.
At the time of writing, BNB is trading at $273, down more than 6% from its weekly high of $291.
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