Crypto trader Dave the Wave who nailed Bitcoin’s collapse from $60,000 is unveiling when he believes the BTC bull market will resume.
In a new tweet, the analyst known as Dave the Wave tells his 59,300 followers that he sees Bitcoin reversing its bearish trend sometime in the third quarter of this year.
“On the positive side of things, and on the basis of momentum as measured by the histogram, a good chance of seeing price turn around as early as August.”
Although Dave the Wave sees a possible turnaround for Bitcoin in the coming months, he says the leading crypto asset is forming a bearish continuation pattern indicating that the leading crypto asset may drop to as low as $20,000 before it can ignite a sustainable ascent.
“Starting to look like this head and shoulders pattern, on the lower time frame, might just play out…”
Earlier this month, the crypto analyst said that Bitcoin was forming a descending channel, suggesting that a local top was in. At the time, the leading cryptocurrency was trading below $60,000.
“No certainties of course [*especially* in the short term] but price action is currently on course for a series of lower highs and lower lows….Certainly seems price has met a significant level here just south of the logarithmic growth channel top.”
Source: Dave the Wave/Twitter