Analysis

Trader Who Called 2021 Bitcoin Collapse Predicts Meteoric BTC Rally, Says To Expect the Unexpected

A crypto strategist who nailed Bitcoin’s (BTC) Could 2021 meltdown is unveiling his large long-term goal for the flagship digital asset.

Pseudonymous analyst Dave the Wave tells his 140,000 followers on the social media platform X that Bitcoin seems to be within the midst of forming an immense inverse head and shoulders sample on the month-to-month chart.

In accordance with a chart shared by the analyst, he expects Bitcoin to interrupt out of the bullish sample someday in 2025 en path to its goal above $370,000.

“I don’t assume anybody is anticipating something like this.

All the time anticipate the surprising.” 

Image
Supply: Dave the Wave/X

Dave the Wave’s chart, he seems to foretell that BTC will revisit its all-time excessive at round $69,000 someday subsequent yr earlier than a deep corrective transfer beneath $50,000 to type the correct shoulder of the sample. The chart additionally exhibits that Bitcoin would go on a roaring two-year bull market after forming the bottom of the correct shoulder.

Dave the Wave can also be weighing in on the potential impression of Bitcoin’s upcoming halving, which is slated for April 2024. In accordance with the analyst, he believes that the halving will function a catalyst that might push Bitcoin to its all-time highs subsequent yr.

“Although I feel BTC halving will play an more and more insignificant function because the market matures, it could serve but as a stimulus once more within the interim.

Value has beforehand exploded to the upside when the month-to-month peak shut met the decrease band of the LGC (logarithmic development curve).

This is able to recommend a strengthening of value to earlier highs in 2024… with the breakout in 2025.” 

Image
Supply: Dave the Wave/X

At time of writing, Bitcoin is value $25,792.

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