Analyst Who Predicted May 2021 Bitcoin Collapse Maps Potential BTC Capitulation Scenario

Analyst Who Predicted May 2021 Bitcoin Collapse Maps Potential BTC Capitulation Scenario


An analyst who called the Bitcoin May 2021 collapse is laying out possible scenarios for BTC, including a dramatic capitulation event.

The pseudonymous analyst known as Dave the Wave tells his 98,000 Twitter followers that Bitcoin is likely headed down below the $25,000 range.

For references, he uses the May 2021 and November 2021 corrective periods as examples of what BTC traders could see next.

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“If we get a Bitcoin move down comparable to the previous two, looking at the $25,000 region.”

Source: Dave the Wave/Twitter

The analyst also points out that despite the bearish price action in recent weeks, BTC still has considerable downside as suggested by its 200-week moving average (MA). Dave the Wave says that Bitcoin is still well above its 200-week

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