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

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

Pseudonymous analyst Dave the Wave tells his 140,000 followers on the social media platform X that Bitcoin appears to be in the midst of forming an immense inverse head and shoulders pattern on the monthly chart.

According to a chart shared by the analyst, he expects Bitcoin to break out of the bullish pattern sometime in 2025 en route to its target above $370,000.

“I don’t think anyone is expecting anything like this.

Always expect the unexpected.” 

Source: Dave the Wave/X

Looking at Dave the Wave’s chart, he appears to predict that BTC will revisit its all-time high at around $69,000 sometime next year before a deep corrective move below $50,000 to form the right shoulder of the pattern. The chart also shows that Bitcoin would go on a roaring two-year bull market after forming the base of the right shoulder.

Dave the Wave is also weighing in on the possible impact of Bitcoin’s upcoming halving, which is slated for April 2024. According to the analyst, he believes that the halving will serve as a catalyst that could push Bitcoin to its all-time highs next year.

“Though I think BTC halving will play an increasingly insignificant role as the market matures, it may serve yet as a stimulus again in the interim.

Price has previously exploded to the upside when the monthly peak close met the lower band of the LGC (logarithmic growth curve).

This would suggest a strengthening of price to previous highs in 2024… with the breakout in 2025.” 

Source: Dave the Wave/X

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

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Tumblr

Surf BitcoinLinux Mix

Check Latest News Headlines


Get Alerts 728x90 27
Disclaimer: Opinions expressed at BitcoinLinux are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. BitcoinLinux does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is BitcoinLinux an investment advisor. Please note that BitcoinLinux participates in affiliate marketing.

Generated Image: Midjourney

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

Blocked because of Ad Blocker

It seems that you are using some ad blocking software which is preventing the page from fully loading. Please whitelist this website or disable ad blocking software.

appeared first on BitcoinLinux.