Trader Who Nailed 2022 Crypto Meltdown Says ‘Up Only’ Season in Sight – But There’s a Catch

An analyst who precisely known as the 2022 crypto collapse believes that digital property are near coming into a interval of sustained rallies.

Pseudonymous analyst Capo tells his 909,000 followers on the social media platform X that he sees the resurgence of bullish momentum in crypto.

Nevertheless, the analyst notes that his prediction will come to fruition solely after a big correction.

“Potential final 5%-15% shakeout, earlier than the ‘up solely season’ begins.

Simply don’t get shaken out.”

Capo additionally tells his 114,604 subscribers on his Telegram channel that he’s constructing a hedge place in step with his anticipated correction. Hedging is a risk-management technique the place merchants open new positions designed to offset the potential losses of their current investments.

Taking a look at Solana (SOL), the analyst shares a chart suggesting that the large-cap crypto asset would plunge towards the $220 worth degree earlier than sparking a rally to a brand new all-time excessive of $320.

At time of writing, SOL is buying and selling for $250.

As for Ethereum (ETH), the dealer sees the main altcoin retracing to its “essential assist” space earlier than surging to a brand new all-time excessive near $5,000.

“That is how it could look. Similar as earlier than, however including the potential final shakeout, which might check the $2,800-$3,000 assist once more.”

Based mostly on the dealer’s chart, he appears to foretell that altseason will start as soon as Ethereum ignites its run to a brand new report excessive. At time of writing, ETH is price $3,329.

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