Crypto Trader who Correctly Predicted Bitcoin Price Collapse from US$60,000 Level, Now Predicts Return of BTC Bull Market

Renowned cryptocurrency trader “Dave the Wave” has tweeted to tell his over 59,000 followers that the Bitcoin price will reverse its bearish trend in the 3rd quarter of 2021 (Q3 2021). He tweeted:

“On the positive side of things, and on the basis of momentum as measured by the histogram, a good chance of seeing price turn around as early as August.”

His comments are especially important because he had rightly predicted the ongoing collapse of the Bitcoin price from its US$60,000 level, especially after it hit an all-time high (ATH) at near US$65,000 on April 14, 2021.

Though he pointed out that the turnaround of the Bitcoin price is around the corner, the trader “Dave the Wave” made it clear that a bearish continuation pattern of the BTC price is forming. He believes that this bearish formation may pull down the largest crypto’s price to as low as US$20,000 before bottoming and reigniting a sustainable ascent.

He said:

“Starting to look like this head and shoulders pattern, on the lower time frame, might just play out…”

The Twitter handle “Dave the Wave” had suggested earlier in May 2021 that a descending channel is forming. He made this prediction at a time when the BTC/USD pair was trading below the US$60,000 level. His suggestion came true around May 17, 2021, when the price started to correct deeply. The price made a significant crash of around 30% on May 19, 2021, and is now (as of May 31, 2021) hovering around the US$36,000 level.

“Dave the Wave” Twitter handle went on to say:

“No certainties of course [*especially* in the short term] but price action is currently on course for a series of lower highs and lower lows….Certainly seems the price has met a significant level here just south of the logarithmic growth channel top.”

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