Trader Who Correctly Called Bitcoin Crash Predicts Ethereum, XRP and EOS Will Surge If BTC Follows One Rule

A trader who correctly predicted Bitcoin’s big crash to around $4,000 in early 2020 is back after taking a three-week hiatus.

The pseudonymous analyst known in the industry as Capo tells his 16,000 followers on Twitter that he’s bullish on three altcoins – if BTC can remain strong.

The trader says he just bought Ethereum, EOS and XRP in anticipation of a rally in the weeks ahead. He believes Ethereum looks ready to continue breaking out against Bitcoin, after the second-largest cryptocurrency broke through a key level of resistance.

Source: CryptoCapo/Twitter

The analyst says EOS is also looking strong against both BTC and the US dollar.

As for XRP, the trader points to the third-largest cryptocurrency’s past price history, noting that its current trajectory appears similar to what happened back in 2017 before the coin’s epic breakout to an all-time high of $3.84.

Source: CryptoCapo/Twitter

When it comes to the crypto bellwether Bitcoin, the analyst says the leading cryptocurrency must turn resistance at $10,500 into support.

“As I’ve said many times, $10.5k is the key level. Above it, first target is $12k.

I’m not bearish above that level, but the bearish scenario will be in play again if BTC consolidates below this level. I’m only trading bullish altcoins setups now.”

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Source: https://dailyhodl.com/2020/07/31/trader-who-correctly-called-bitcoin-crash-predicts-ethereum-xrp-and-eos-will-surge-if-btc-follows-one-rule/