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Cryptocurrency analyst il Capo made uninspiring comments about the Bitcoin (BTC) price in his statement.
Bitcoin price has been continuing its downward trend since yesterday, and at the time of writing this article, it is trading at $66,546, according to Binance data, with a 1.30% decrease in the last hour.
The recent price action in BTC looks “pretty ugly,” according to the analyst. il Capo said that if Bitcoin does not jump soon, he will start closing his positions.
In his statement during the day today, il Capo also stated that he made an addition to the Render (RNDR) positions today. According to the analyst's statement, the average entry price for RNDR was $8.89. At the time of writing this article, RNDR price is trading at $8.32. Yesterday evening, after il Capo announced that it had taken an RNDR long position, the price of the altcoin experienced a temporary increase.
The analyst shared an analysis for Bitcoin during the day today. According to il Capo, the $67,000 level continued to serve as a support point before the decline, and the next bull confirmation will come if $69,000 is exceeded. However, the analyst thinks that altcoins will also breathe if this scenario occurs.
*This is not investment advice.