The crypto -analyst, who accurately called Bitcoin in 2021, believes that the BTC is in the process of creating a strong base for the next stage of the bull market.
A pseudonymous crypto strateg Dave the wave tells its 149,300 subscribers on the platform of social networks X that Bitcoin apparently creates a reverse head and shoulder scheme on a daily diagram.
The reverse structure with the head and shoulders is traditionally considered as a bull -free model, since it assumes that buyers no longer wait until the price returns to the last minimums before accumulating the asset.
Dave The Wave sees how Bitcoin is raised about $ 89,000 before falling, to support $ 77,000 and rafting to a new record high above $ 110,000.
“With the interpretation of the first line of resistance, the cut of the possible reverse BTC [head and shoulders] It will be formed … an excellent basic template. “
He also believes that Bitcoin’s long -term upward trend is not damaged, although market moods for BTC have turned bearish. He emphasizes that the price action of BTC suggests that the correction is almost over.
“The year continues, as in the diagram. Any objective observer of the table, unfamiliar with the market and not falling into it, is without a doubt the question of what such a panic belongs to the price [yes, people can be emotionally detached toward Bitcoin]The field of their initial impression of the schedule would be visual when seeing a regular series of movements and corrections, and they are most likely prone to see the price at the end of another correction.
Nevertheless, most of those who are more closely connected with the market, observing each daily price movement, is currently in a state of almost panic. The explanation of this phenomenon, in my opinion, is a collective/crowd, on the one hand, and the “illusion of money”, on the other. “
At the time of writing, Bitcoin costs $ 83,500.
Generated image: midjourney
