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 Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
