Top Analyst Who Mentioned Crypto Collapse Says Rallies Are Imminent for Bitcoin, Ethereum and Cardano

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A crypto strategist who nailed this year’s collapse in digital asset markets says rallies are in sight for Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA).

The pseudonymous analyst Capo tells 503,000 Twitter followers say Bitcoin looks poised for a breakout rally now that the king crypto has knocked out a diagonal resistance on the lower time frame.

“Main bearish trendline broken. A bullish confirmation for the short squeeze would break the USD 20,700-$20,800 resistance. After that, we should see $22,500-$23,000. Invalidity for the idea of ​​short squeeze: break $19,500 and key confirmation would be a clean break of $19,000.

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Source: Capo/Twitter

At the time of writing, Bitcoin is changing hands at $19,815, flat on the day.

Next up is Ethereum, which Capo says is currently a good opportunity for short-term traders.

“Desire for ETH, good [risk/reward] ratio. Target price: $1,800.”

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Source: Capo/Twitter

Looking at Capo’s chart, he expects Ethereum to sharply correct to around $1,300 after hitting its target. At the time of writing, ETH is valued at $1,558, also flat on the day.

The crypto strategist is also keeping an eye on fellow smart contract protocol Cardano. According to Capo, ADA has broken out of its diagonal resistance and now appears to be heading towards its $0.52 target.

“Playing nicely. Stop loss moved to break even.”

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Source: Capo/Twitter

While Capo is bullish for Cardano in the near term, his chart shows he expects ADA to see a deep retracement to around $0.30 after its target price is reached.

At the time of writing, Cardano is trading at $0.47, up more than 4% on the day.

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