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The cryptocurrency strategist, who accurately predicted the collapse of bitcoin in 2021, has not lost faith in BTC, despite a correction of more than 12% in about a week.
Analyst Dave the Wave, who has 124,000 Twitter followers, believes bitcoin may reflect the bottom of 2018, when it formed an ascending triangle pattern to get out of the bear market.
According to the cryptanalyst, bitcoin continues to observe the key levels of Fibonacci retracement against the background of a pullback.
We currently have a 50% pullback from the recent upward movement. And a 38 percent rollback of the macro.
At the time of writing, BTC was trading at $21,420, which is above the key Fibonacci area designated by the analyst at $21,000.
Despite the fact that, in his opinion, BTC still looks optimistic, its colleague in cryptanalysis Smart Contracter does not share this opinion. The cryptocurrency strategist believes that BTC is preparing to set a new minimum of the cycle.
How quickly it all happened. It is likely to fall to a new low below $17,000. I don’t like this schedule.
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