Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, published a statement about the price movements he predicts will occur before and after the approval of Bitcoin spot ETFs.
According to the analyst, there will be a pump wave in the market with the news that Bitcoin Spot ETFs have been approved. However, il Capo claims that there will be a reversal in the price a few days after the approvals and the decline will begin when ETFs start trading.
According to the analyst, BTC whales are showing strong interest in the $48,000 to $50,000 range. il Capo said that ETF approval news could trigger high volatility, causing very large candle wicks on the charts. According to the analyst, a pump between $48,000 and $50,000 followed by a major rejection from here seems like a possible scenario.
Il Capo, known for his bearish statements, claims that following the ETF approval news, the “sell the news” scenario will occur and there will be a drop between $30,000 and $31,000 in the first place. Then, it targets a temporary rise between $ 35,000 and $ 36,000 and then $ 12,000 with “capitulation”.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/big-bear-analyst-il-capo-shares-levels-he-claims-btc-price-will-go-after-bitcoin-spot-etf-approvals/