Market Analysis and Bitcoin's Movement
In 2022, Capo emerged as a prominent figure with several accurate predictions during the bear markets. Recently, Roman Trading, another significant entity known for its forecasts about the recent two-quarter declines, shared its latest assessment. Amid these analytical endeavors, Bitcoin (BTC) climbed to $107,500, before stabilizing around $103,000, demonstrating a temporary halt at this level.
Predictions of Cryptocurrency Declines
A few days ago, Capo suggested that following a test below $100,000, BTC might move towards $107,000 for a short squeeze, a prediction that came to fruition. Despite being ridiculed in 2023 and 2024 for incorrect forecasts, Capo, known as one of the fiercest bears in recent years, provided further insights on the market dynamics.
Capo posited that while there are short-term supports signaling a potential brief recovery, the overall trend remains downward. He refutes the idea of an imminent altseason, viewing it instead as a dead cat bounce with a slight upward movement. According to Capo, a substantial bullish surge might follow a significant capitulation event, anticipated after what he refers to as the “Black Swan pre-event,” expected around October 10.
The anticipated downturn is likely predicated on chaos ensuing from tariffs being overturned by the Supreme Court, a scenario eagerly anticipated by many. When the Supreme Court rules against Trump, the resulting market fluctuations are expected by some to be an opportunity for “easy money” through short positions. However, it’s uncertain if the markets will present this opportunity if everyone is prepared to profit from it.
In subsequent phases, a market rise is expected, as the tariff chaos concludes, and with the Federal Reserve ceasing Quantitative Tightening by December, 2026 is set to usher in narratives of monetary expansion in the first quarter. While the trade narrative appears straightforward, the actual journey may reveal unforeseen surprises.
Roman Trading's Cryptocurrency Decline Prediction
The analyst, with a track record of bold predictions, is recognized for frequently hitting targets, which is why his perspectives hold value, particularly in today’s market context. Roman Trading has delivered its latest market analysis.
Sharing BTC’s weekly chart, Roman Trading noted that the previously confirmed downward trend is set for another test, with a short position following the LTF trend scoring 100% accuracy thus far. Given the break in the 1.5-year uptrend, much lower levels are anticipated, confirming the end of the bull run.
From their perspective, the optimistic era has concluded, leading to prolonged challenging periods ahead.