A well-known Bitcoin analyst, known as Dave the Wave, believes that Bitcoin could be on the verge of a major price surge. He’s predicting a big move starting as early as October 1st.
A Bullish Outlook
Dave the Wave, who accurately predicted the Bitcoin crash in May 2021, is seeing signs of a bullish breakout. He’s noticed Bitcoin forming a triangle pattern on charts, which often precedes a strong price move. He also points out that Bitcoin is holding above a key support level, indicating strong buyer interest.
Not a Bear Market
Dave the Wave dismisses the recent dip in Bitcoin prices as a “correction” or “consolidation,” not a full-blown bear market. He uses Fibonacci retracement tools to show that Bitcoin has only dipped to a minor support level, suggesting that buyers are ready to step in and push prices higher.
History Repeating?
Dave the Wave also sees parallels between Bitcoin’s current price action and its behavior in the previous cycle. He believes that Bitcoin is following a similar timeline and could be poised for a breakout based on its performance in 2020.
What’s Next?
While Dave the Wave’s predictions are exciting, it’s important to remember that crypto markets are notoriously volatile. It’s always a good idea to do your own research and invest cautiously.
