Analyst Warning on Bitcoin’s Future

An analyst known for accurately predicting the 2021 crypto crash warns that Bitcoin (BTC) may soon face a waterfall event.

Pseudonymous analyst Dave the Wave informs his 148,300 followers on X that Bitcoin is currently testing support around $90,000. He expects Bitcoin to repeat its late 2024 price trend, which saw a drop to the 0.382 Fibonacci level before a significant price increase.

> “As expected BTC local lows being re-tested… I haven’t seen that larger washout yet into the lower Fibonacci level that I’m also looking for.”
> (Source: Dave the Wave/X)

From his analysis, Dave the Wave predicts that BTC could fall to about $80,000. He is closely monitoring the moving average convergence divergence (MACD) indicator on the weekly chart, a common tool for identifying asset trends.

> “Technically superb BTC price action in this current bull market. Something like an April low on the basis of this.”
> (Source: Dave the Wave/X)

While he is bearish on Bitcoin’s short-term outlook, Dave the Wave believes any significant downturn will pave the way for a rally to approximately $180,000 by year-end.

> “Why complicate things?”
> (Source: Dave the Wave/X)

As of now, Bitcoin is trading at $91,529.