A crypto strategist that accurately called the top of the Bitcoin Bull Market 2021 believes that the worst of the current BTC in -order is now in the rear -view mirror.
Pseudonymous analyst Dave the Wave tells Are 148,800 followers on the social media platform X that Bitcoin is close to cutting the price base of this correction.
According to the analyst, the downward potential of Bitcoin from current levels is limited on the basis of various technical indicators.
“Thinking that we have seen the worst of this BTC correction of several months:
1]Multi -year diagonal support that comes through
2]0.38 Fibonacci Retracement Repetition
3]0.5 Fibonacci Retracement and resistance come support
4]Time Fibonacci until the end of April
5]A year -old average comes through. “
Traders use the Fibonacci extension tool to determine potential reversal price areas based on the Fibonacci ratio. Looking at the graph of the trader, he seems to suggest that BTC will go to $ 74,000, where three technical indicators come together as support, including the 0.5 Fibonacci level, the diagonal trend line with high time and the one-year-old average average.
At the time of writing, Bitcoin acts for $ 79,361.
While some prominent crypto strategists believe that the Bitcoin -Bullmarkt is now over, Dave the Golf predicts that BTC will see a profit of more than 2x after the price level of $ 74,000.
“BTC Darkest for the Dawn.”
Based on the graph of the trader, he seems to predict that Bitcoin will rise to a new high point of $ 160,000 before the end of the year.
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