Analyst Who Predicted 2021 BTC Crash Says Bitcoin Is Building for Next Bull Phase
A well-known crypto analyst believes that BTC is now forming a strong technical foundation for the next leg of its bull market.
Pseudonymous strategist Dave the Wave think’s that Bitcoin may be forming a classic bullish reversal pattern: the inverse head-and-shoulders.
Inverse Head-and-Shoulders Suggests Market Is Bottoming
According to Dave the Wave, BTC’s current daily price structure resembles a potential inverse head-and-shoulders pattern, a setup traditionally seen as a bullish signal indicating sellers are weakening and buyers are stepping in.
“With a push through the first line of resistance, the neckline of a possible BTC reverse [head and shoulders] would be formed… a great basing pattern,” he said.
His chart suggests Bitcoin could surge to around $89,000, before pulling back to the $77,000 support zone, and eventually launching a run to new all-time highs above $110,000.
With a push through the first line of resistance, the neckline of a possible #btc reverse h&s would be formed… a great basing pattern. pic.twitter.com/L8qfQzohuo
— dave the wave🌊🌓 (@davthewave) April 15, 2025
Long-Term Uptrend Remains Intact
Despite bearish sentiment in the market, the analyst says Bitcoin’s macro trend remains healthy. Dave emphasized that BTC’s price movements — while appearing volatile to some — fit within a consistent pattern of rallies and corrections.
“Any objective observer of the chart, unfamiliar with the market and not being caught up in it, will no doubt wonder what the panic is regarding price,” he noted.
He explained that crowd psychology and emotional reactions often distort investor perception, particularly during periods of minor corrections.
“Most of those more closely tied to the market… are currently in a state of near panic. The explanation of this phenomenon, in my opinion, is collective/crowd sentiment on the one hand, and ‘money illusion’ on the other.”
The Bottom May Already Be In
Dave the Wave’s analysis suggests that BTC may be nearing the end of its current correction, and that a long-term rally is still in play. If the inverse head-and-shoulders pattern confirms, it could be the springboard for a new bullish breakout toward six-figure territory.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
