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BTC price struggles at $21K as trader says ‘top is in’ for Bitcoin, Ethereum


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Bitcoin (BTC) continued consolidating into the Oct. 30 weekly close as concerns over a deeper retracement became vocal.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Trader avoids new longs below $21,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling levels just below $21,000 on the day.

Weekend trading had produced an early return above the $21,000 mark, this short lived as Bitcoin bulls failed to offer the volume to sustain higher levels.

Now, popular trader and analyst Il Capo of Crypto sensed a change of direction was ultimately due for Bitcoin and altcoins alike.

Altcoins themselves had also performed strongly through the weekend, notably led by Dogecoin (DOGE), which was up another 25% in the past 24 hours at the time of writing and at six-month highs.

“In my opinion, top is in for $BTC and $ETH, but some altcoins could pump more,” he wrote in part of a fresh Twitter update.

“Not entering any new long positions and just trailing my stops in profits (altcoins). I will fully TP soon.”

Profit-taking was already a hot topic in recent…

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