Popular crypto strategist Capo studies fractal patterns to determine direction in Bitcoin and large-volume altcoin projects after a recent downtrend that affected much of the market. Cryptocoin. com, we take a look at the latest analysis of Capo.
Analyst reminds 2020 movements of Bitcoin
Twitter analyst Capo, known for his accurate altcoin predictions, provides his 214,600 followers with a chart highlighting how the previous Bitcoin (BTC) price fell in early 2020, before impressive gains for Bitcoin over the past spring and summer. Before continuing, you can take a quick look at the loops below.
The altcoin oracle refers to the above fractal that is used by investors to predict future price action based on patterns and trends created by past data. Responding to a question asking for clarification about whether BTC is heading higher or higher, Capo says:
We may hit bottoms on the lower timeframe, but you never know. Keeping it is preferable.
How can fractal be interpreted for Binance Coin (BNB)?
Capo then turns his fractal lens to Binance Coin (BNB), the native token of international cryptocurrency exchange Binance. It highlights a string of previous fixes, parabola bases and extensions to plan for a potentially insane breakout for BNB in the second half of 2022. The analyst shares the following technical chart and says:
BNB. Interesting fractal. I don’t know how long the base of the parabola will last, but the ascent could be epic.
As for the leading altcoin project
The analyst continues to look at the leading smart contract platform Ethereum (ETH) when paired with Bitcoin. According to the analyst, ETH offers a chart showing a series of HH and HL levels that should keep him optimistic about the relative price action over the next few months.
I’m still thinking long on this couple…