Analyst Who Called 2022 Crypto Collapse Says Bitcoin Flashing ‘Undeniable Strength’ – Here’s His Outlook

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Crypto Analyst Bullish on Bitcoin Amid Global Uncertainty

A prominent crypto analyst, known for accurately predicting the 2022 Bitcoin crash, is optimistic about the resilience of the BTC market despite ongoing global uncertainties.

Referred to as Capo, the pseudonymous analyst recently shared insights with his vast following of 909,000 followers on X. Capo highlighted key metrics indicating the strength of Bitcoin’s market, with the leading cryptocurrency currently trading around $69,000, following a recent peak at approximately $73,000.

“Despite the events, the strength that the market is showing is undeniable. Bears keep getting trapped.”

Capo presented a chart illustrating the recent buying and selling volumes of Bitcoin, suggesting that the market is effectively absorbing significant sell-offs.

Additionally, Capo shared another chart indicating a scarcity of sell-orders in the $70,000 range, implying that most investors are holding onto their positions in anticipation of higher price targets.

In a recent tweet, Capo expressed that a successful reclaim of the $72,000 support level by Bitcoin could pave the way for a swift surge towards the $80,000 mark.

“Just needs a strong candle close above $72,000 and we should see $85,000+ with alts outperforming.”

The analyst also pointed out the unprecedented bullish signal from the 10-day relative strength index (RSI), indicating potentially favorable market conditions.