An analyst who accurately predicted the time of the major Bitcoin correction last year says now that BTC is at the right time to withdraw.
Trader Dave the Wave, in his tweet on Twitter; It marks a level of resistance that has kept the Bitcoin market in the bear market for more than two years.
The analyst sees a strong liquidation that could reduce the cryptocurrency to $ 6,400 if BTC continues its long-term resistance.
Your move Bitcoin… pic.twitter.com/7ug4CsQg0p
— dave the wave (@davthewave) May 15, 2020
Although it is thought that Bitcoin will have difficulties in the coming weeks, the technical analyst says that short-term price estimates are generally not as reliable as long-term price estimates.
The cryptocurrency analyst predicts an impending downfall and the opportunity to buy from the bottom if Bitcoin follows this scenario.
The analyst put up a price of $ 6,400 to $ 11,000 as the buying area in the next bull rally. Based on Bitcoin’s historical cycles and declining supply, Dave predicts that by 2023 the asset will rise to $ 100,000.
In June 2019, when Bitcoin rose from $ 7,986 to $ 13,000, Dave made an extremely accurate estimate, saying that Bitcoin would drop to about $ 6,000 before the end of 2019.
Bitcoin closed the year at a low cost of $ 6,425 in December.