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
You can see the Bitcoin price here.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
SN_Nour
According to Dailyhodl
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
Willemstad, Curaçao, 4th November 2024, Chainwire
London, UK, 4th November 2024, Chainwire
November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…
OpenSea new version is scheduled to launch in December, with an improved user experience, improved…
This website uses cookies.