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Bitcoin Price on Verge of 1,000% Rally: Crazy Accurate Analyst Who Predicted BTC $6,400 Bottom
There are few Bitcoin traders that have been as accurate as Dave the Wave over the past year.
The pseudonymous cryptocurrency trader predicted in the middle of 2019 that the BTC price of the asset would retrace to the mid-$6,000s to enter a “long-term buying zone” after the over-300% rally that brought BTC from $3,150 to $14,000 in a few months’ time.
Bitcoin did just that, bottoming at $6,400 on December 18th, briefly entering the buy zone Dave the Wave laid out, offering investors with a rare opportunity to purchase the cryptocurrency at the peak of the feasible risk-return curve.
For the longest time, investors have been waiting for Bitcoin (BTC) to hit $100,000 – many think this is a price that will make the world, from Wall Street to Main Street, have true belief in BTC.
Right now, however, it seems entirely unfeasible for Bitcoin to hit $100,000 in the medium-term, for this price point lies around 1,000% higher than the current market price of $10,000 flat.
But, according to Dave the Wave, the cryptocurrency is still on a clear trajectory to enter a six-digit price point in the coming two to three years.
Dave backed this prediction by pointing out the cryptocurrency is on the verge of finishing a fractal correction and is about to break past of a long-term descending trendline, which marked the two swing tops over the past two years.
A move past the trendline, which will soon line up with the long-term buying zone for Bitcoin, is likely to kick off a rally to $100,000, Dave suggested.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Stay encouraged with any pullbacksAfter multiple weeks of green, a couple weeks of downward price action would be fine
Many were looking for the opportunity to buy and this could present ample opportunities
— Josh Rager 📈 (@Josh_Rager) February 15, 2020
ALTS barely flinched during the $BTC dump. In fact, it was barely a dump and there was barely a dip to buy.
All signs of how strong this market is and how strong $BTC & ALTS are.
Anyone who says they see weakness is just seeing a mirage in their head.
— Satoshi Flipper (@SatoshiFlipper) February 15, 2020
Price movements under $20,000 have only been a distraction to shake you out before $100,000 #Bitcoin
— Crypto Rand (@crypto_rand) February 14, 2020
For those getting stuck or confused on the shorter term call, here’s my view going forward. If you’re a holder/ investor, ignore the short term calls and focus on the medium/ long term.
Main point being, a consolidation to the buy zone would set BTC up nicely for its run. pic.twitter.com/AC2gv5VrGI
— dave the wave (@davthewave) February 16, 2020
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