Bitcoin Faces Steep Drop if Critical Support Level Fails, Analyst Says
Crypto analyst Capo, who accurately predicted the 2022 crypto collapse, warns that Bitcoin (BTC) faces a steep decline if it fails to maintain support above $92,000.
Sharing insights with nearly a million followers on X, Capo notes that after rebounding from its April low of $75,000, Bitcoin has entered a crucial resistance zone between $92,000 and $98,000. He states that BTC remains bullish above $92,000–$93,000 but faces strong resistance at the upper end of that range. However, if Bitcoin drops below $92,000, Capo predicts a potential crash of more than 37%, possibly sending the price down to $60,000. Despite this cautious outlook, he observes ongoing low timeframe distribution and believes altcoins could continue pumping in the short term, prompting him to consider taking profits. At the time of writing, Bitcoin trades at $96,608, up 2.6% in the past 24 hours.
Capo also remains optimistic about Render (RENDER), a GPU-based rendering network token. Reporting a 60% gain from his entry point and projecting a continued rise toward his $6.58 target. Render currently trades at $4.65, up 4.7% on the day.
Clever Robot News Desk 3rd May 2025
