An analyst who is known for the correct timing of the Crypto -Crash of 2021 warns that Bitcoin (BTC) is coming close to a waterfall event.
Pseudonym Dave the Wave tells his 148,300 followers on the social media platform X that Bitcoin will currently test or support at around $ 90,000.
According to the crypto strategist, he expected Bitcoin to simulate its price action at the end of 2024 when it went to the 0.382 Fibonacci level before it gained an enormous movement.
“As expected, BTC local lows tested again … I have not yet seen that larger leaching in the lower Fibonacci level that I am also looking for.”
Looking at the graph of the trader, he seems to predict that BTC will fall to around $ 80,000.
Zoom out, Dave de Golf out He keeps a close eye on the advancing average convergence -divigence (MACD) indicator on the weekly graph. The MACD is a commonly used indicator to identify the current trend of an active one.
According to the Trader, BTC’s MacD will hit the zero line at the weekly period to reset on the way to tapping the 0.382 Fibonacci level.
“Technically excellent BTC price campaign in this current bullmarkt.
Something like a low point of April based on this. ‘
But while Dave de Golf will be Bearish in the coming months about the prospects of BTC, believe That the deep mark will determine the stage for a Bitcoin meeting by the end of the year at around $ 180,000.
“Why make things more complicated?”
At the time of writing, Bitcoin trades $ 91,529.
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Featured image: Sensvector/Klyaksun