Legendary cryptocurrency analyst il Capo of Crypto offered his followers his new views in light of the latest developments in the market.
Market and Current Situation
Bitcoin price jumped today as the possibility of a rate cut increased following dovish speeches by Jerome Powell.
Predictions and Targets
Speaking after the rise experienced on the BTC side, the analyst explained that the first bullish confirmation in the BTC price was the rise above $62,000, and this occurred after the recent developments. He stated that the current target is around $69,000-70,000.
Comments and Recommendations
According to the analyst, the second bullish confirmation will occur after the Bitcoin price surpasses $69,000-$70,000. After that, the main target will be between $75,000 and $80,000, according to il Capo.
The BTC price even dropped below $49,000 during a recent sudden drop, causing concern in the cryptocurrency market. The analyst also noted that in volatile times, leverage should be used to focus on the medium and long term.
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