Industry insider known as Dave the Wave told his 80,000 followers that Bitcoin has risen in an ascending parallel channel since it rose from lows of $ 30,000 in July.
“A good prospect.
If the price within the channel continues to rise at this rate, it cannot reach $ 100,000 in December either. “
The source: Dave the Wave / Twitter
However, Dave the Wave made it clear that traders shouldn’t confuse his analysis with the firm prediction that Bitcoin won’t rise to $ 100,000 by the end of the year.
“Yes, some people might misunderstand the meaning of this post by saying that Bitcoin is definitely not going to hit $ 100,000 in December. It doesn’t say that at all. It says,” IF the price inside the channel goes up at this rate, it will he won’t reach $ 100,000 by December. “This hypothesis is not testable.”
In January 2020, Dave the Wave made a bet with crypto analyst PlanB on the potential value of BTC in December 2021.
PlanB, the creator of Bitcoin’s Stock-to-Flow (S2F) model, predicts that the top of the market cycle will be at $ 288,000. The two analysts agreed that $ 100,000 in December 2021 would break Dave the Wave’s pattern.
https://twitter.com/davthewave/status/1283332678398251008?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
Dave the Wave also hinted that Bitcoin could potentially make a double high and hit a second high at $ 65,000 before falling again. According to him, Bitcoin is showing a bearish divergence in the daily timeframe, suggesting that a correction could be imminent.
“The channel’s resistance line coincides with the previous ATH (all-time high).”
The source: Dave the Wave / Twitter
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