Market

KOL Capo reveals big price target for DOT next year and predicts a strong rebound for Bitcoin

A prominent analyst predicts an epic rally for Polkadot (DOT) in 2022 while anticipating a strong Bitcoin (BTC) rally.

Known in the industry by the nickname Capo, he told his 220,800 Twitter followers that he sees the interoperable blockchain Polkadot grow 2.471% from its current price of $ 26.25 by May next year.

“DOT chart unchanged, trend still upwards and target the same.”

The source: Capo / Twitter

Capo makes his predictions using Elliott Wave Theory, a technical analysis method that predicts future price movements by analyzing the sentiment of the crowd across each wave. According to Capo’s chart, DOT is in long-term wave 3 and will hit $ 250 before a major correction. After that, wave 5 can bring the DOT to $ 675.

Looking at Bitcoin (BTC), Capo believes BTC is very close to a local low.

“These two adjustments are very similar.

– Same 3-wave movement pattern

– Same floor structure (3 touches)

– Same negative funding + premium rate

– There is a hidden bearish divergence ahead of the recent decline. ”

The source: Capo / Twitter

According to Capo’s chart, Bitcoin’s correction below $ 46,000 on December 13th helped complete a floor structure and the price will soon climb back above $ 60,000.

As for Ethereum (ETH), the crypto analyst on the leading smart contract platform is bullish as long as he avoids a weekly close below $ 3,900.

“Since the decline in March 2020, ETH has formed a perfect uptrend with successive higher lows and is now testing the previous high as a support again. That is very optimistic. ”

The source: Capo / Twitter

You can see the coin prices here.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page

CoinX

Recent Posts

Italy Considers Reducing Proposed Italy Crypto Tax to 28%

Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…

3 hours ago

Bitcoin Spot ETF Inflows Reach $818M Amid 5-Day Positive Streak

Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…

3 hours ago

Elon Musk Invests $200M in Trump, Treats Government Like X (Twitter)

Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…

5 hours ago

PayPal Stablecoin PYUSD Now Available for Cross-Chain Trading via LayerZero

PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.

6 hours ago

New Department of Government Efficiency Will Be Led by Musk

President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…

6 hours ago

Best Crypto to Join in November 2024 – Why Now’s the Time to Invest

Imagine you’re navigating the unpredictable seas of cryptocurrency, where market waves can knock the unprepared…

7 hours ago

This website uses cookies.