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.”