Dave the Wave Archives - Times Tabloid https://timestabloid.com/tag/dave-the-wave/ Cryptocurrency and Blockchain Tabs Tue, 07 Jun 2022 09:12:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://timestabloid.com/wp-content/uploads/2021/08/cropped-Times-Tabloid-Favicon-32x32.png Dave the Wave Archives - Times Tabloid https://timestabloid.com/tag/dave-the-wave/ 32 32 Analyst Who Accurately Called Bitcoin May 2021 Crash Predicts Potential BTC Rally. Sets a Target https://timestabloid.com/analyst-who-accurately-called-bitcoin-may-2021-crash-predicts-potential-btc-rally-sets-a-target/ Tue, 07 Jun 2022 09:10:43 +0000 https://timestabloid.com/?p=6400 Dave the Wave, a pseudonymous crypto analyst who accurately called the May 2021 Bitcoin (BTC) crash, has recently predicted a potential rally that is capable of sending the largest cryptocurrency by market capitalization toward its long-term diagonal resistance. In a series of tweets on the 6th of June, the analyst told his teeming Twitter followers […]

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]]> Dave the Wave, a pseudonymous crypto analyst who accurately called the May 2021 Bitcoin (BTC) crash, has recently predicted a potential rally that is capable of sending the largest cryptocurrency by market capitalization toward its long-term diagonal resistance.

In a series of tweets on the 6th of June, the analyst told his teeming Twitter followers that Bitcoin (BTC) is currently trading within an ascending channel and potentially gearing up for a short-term rally to his target.

Read Also: Bloomberg Senior Strategist: Bitcoin (BTC) Will Be One of the Best Assets on Earth Once Inflation Subsides

In another tweet, Dave the Wave said his target of $39,547 is speculative and only valid if the digital asset maintains the channel.

According to the analyst, traders who believe Bitcoin will revisit its 2017 cycle high of $20,000 should start thinking of risk management.

Dave the Wave noted:

“No one last year conceived of Bitcoin price falling to the previous all-time high. And yet now clarion calls abound. Is it possible? Sure, but people need to balance the [renewed] risk to the upside against the risk to the downside. After the double-top, I revised my technical targets.

“Simply amazed that I am now more bullish than the ‘once were hyper-bulls,’ who have turned bearish, or neutral at best, since the recent capitulation.”

Read Also: Analyst Says Bitcoin (BTC) Would Rise Over 60% in Coming Months if Prevailing Momentum Is Sustained

The analyst is also of the opinion that there is a possibility that the bear market bottom is already in.

“Equally, the low could already have been put in. Shortest-term volatility is always the hardest to predict as near random. It is the longer-term indicators, as per the monthly chart, that gives the most reliability in technical analysis.” 

Moreover, Dave the Wave showed how Bitcoin (BTC) has always bottomed out after touching the 4-year moving average on the monthly chart.

“A tricky one. Touch and go on the LGC. Support on the 4 year moving average…”

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The post Analyst Who Accurately Called Bitcoin May 2021 Crash Predicts Potential BTC Rally. Sets a Target appeared first on Times Tabloid.

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