Home » Analyst Who Called May 2021 BTC Collapse Predicts Explosive Rally for Bitcoin – But There’s a Catch

Analyst Who Called May 2021 BTC Collapse Predicts Explosive Rally for Bitcoin – But There’s a Catch

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Bitcoin in May 2021 (Bitcoin) Collapse believes the explosive rise of King Crypt is on the horizon.

The pseudonymous trader known as Dave the Wave stock A chart that includes his 128,000 Twitter followers shows that Bitcoin will begin to rise next month, surging to the $25,000 level by the end of the year.

“Technically, this is on the card … This corresponds to a half-year bottoming range.”

Source: Dave the Wave/Twitter

A crypto strategist expects Bitcoin to recover soon, but sees BTC quickly drop to $19,000 after Kingcrypt hits his target. Once the pullback is over, Dave the Wave predicts that Bitcoin will rise above $30,000 by next April, ending its six-month bottoming period.

BTC is trading at $19,302 at the time of writing. The top-ranked crypto asset by market capitalization is down 0.9% in the last 24 hours.

To tell Dave the Wave,

“It feels like an eternity, but based on this bottoming process[[Logarithmic Growth Curve]) is the same as before. Less noticeable macro BTC troughs and peaks (explainable based on mature markets). Long-term momentum is picking up. ”

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Source: Dave the Wave/Twitter

analyst too stock A chart showing Bitcoin’s dominance (BTC.D) could return, but he warns traders to take it “with a grain of salt.”

“Has been updated [Fibonacci] Extension from 1 month ago…Take BTC [dominance] With a grain of salt by the heavy elements of the stable (for those who anticipate/anticipate alternative actions there).

image
Source: Dave the Wave/Twitter

The BTC.D chart shows how much of the cryptocurrency market capitalization belongs to Bitcoin. Bullish Bitcoin dominance chart suggests BTC outperforms other crypto assets.

Bitcoin is down more than 72% from its all-time high of over $69,000 almost a year ago.

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Featured Image: Shutterstock/Fortis Design

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