Cryptocurrency analyst Capo claims Bitcoin is at the bottom of its latest correction and further told his followers to buy and wait for a new ATH.

Leading market strategist and analyst Capo says Bitcoin price is bottoming out and tells traders to buy at the current drop.

In a series of tweets released on Friday, the prominent crypto analyst claimed a likely bottom for BTC while noting that Bitcoin long-term traders received “rekt ” in the recent correction.

Capo went on to explain that a drop in long positions will help reset Funding Rates while also trapping Short positions in the hope that Bitcoin has not bottomed yet.

He said both Bitcoin and Ethereum are forming a hidden “bullish divergence” on their RSI charts when tested on a high time frame. Analysts call this divergence a sign that the previous price trend may continue.

Capo went on to explain that a drop in long positions will help reset Funding Rates while also trapping Short positions in the hope that Bitcoin has not bottomed yet.

He said both Bitcoin and Ethereum are forming a hidden “bullish divergence” on their RSI charts when tested on a high time frame. Analysts call this divergence a sign that the previous price trend may continue.