Trader Behind 2021 Bear Market Call Now Predicts Major BTC Rally

A crypto analyst known for accurately forecasting the 2021 market downturn now believes Bitcoin may be gearing up for another significant rally.

The pseudonymous trader, widely recognized as “Dave the Wave,” has pointed to a key technical signal suggesting Bitcoin’s long-term uptrend remains intact.

In a recent post, Dave highlighted the monthly Moving Average Convergence Divergence (MACD) — a trend-following momentum indicator — which is now beginning to curve upward again after a brief pause. He interprets this as a potential sign that Bitcoin could continue climbing in the coming months.

According to his chart analysis, Bitcoin appears to be moving within a price channel that stretches from $75,000 at the low end to $160,000 at the high. The analyst believes a breakout toward the upper range could be on the horizon, estimating that Bitcoin might reach $160,000 in the near term — a gain of over 47% from current levels.

READ MORE:

Final Days Left to Buy Meme Index Tokens at Presale Price Before Exchange Listing

However, he also warns that even in a bullish trend, temporary corrections are natural. If a pullback does occur, he sees $100,000 as a likely support level — a healthy dip, rather than a sign of weakness.

In summary, Dave the Wave’s outlook reflects cautious optimism, with momentum indicators aligning with his view that Bitcoin is still in the early stages of a potential long-term rally.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.