Bitcoin (BTC) Falls Again – il Capo Issues Dire Warning, Explains What He Will Do Next

Cryptocurrency analyst il Capo made some uninspiring comments about the price of bitcoin (BTC) in a statement.

Bitcoin price has been on a downward trend since yesterday and according to Binance data, at the time of writing this article it stands at $66,546, down 1.30% in the past hour.

The analyst believes that BTC’s recent price action looks “pretty ugly.” il Capo said that if Bitcoin doesn’t jump soon, he will start closing his positions.

In his statement during the day, il Capo also stated that he had completed a Render (RNDR) position today. According to the analyst’s statement, the average entry price for RNDR was $8.89. At the time of writing, RNDR is trading at $8.32. Last night, after il Capo announced that he had taken a long RNDR position, the altcoin saw a temporary increase in price.

The analyst shared an analysis for Bitcoin during the day. According to il Capo, the $67,000 level continued to serve as a support point ahead of the decline, and the next bullish confirmation will come if $69,000 is breached. However, the analyst believes that altcoins will also breathe a sigh of relief if this scenario plays out.

*This is not investment advice.