Bitcoin found support in the average band of $46,400 after slipping briefly below the $46,000 level towards yesterday's close. BTC/USD rallied as high as $47,600 in intraday trading, up 2.5 percent in value. While it is seen that BTC is still moving below the 200-day moving average value at $ 47,790, the attempt to rise above this level continues during the US trading hours.
Bitcoin (BTC) has experienced a very active process throughout the year. BTC price, which saw a 100% increase in just two days in 2021, also saw a movement in the opposite direction.
Bitcoin price experienced a very sharp decline due to the negative news in May. While Bitcoin's big fall in May misled many analysts, an analyst made his name by predicting it days ago.
Famous crypto analyst Dave the Wave said in a statement to his followers on Twitter that the fall was coming. Dave the Wave has now issued a much harsher warning.
The famous crypto analyst, based on 5 different indicators, said that $25,000 is at the door for the BTC price. Among them, the most important signal is that the price breaks down by reaching the 4-year MA level and falling below it. He claims that according to another pattern, the price may decline to $25,000 and the pattern can be completed.
"The arguments for 25K:
- Meeting the Gaussian Channel
- Meeting the 4 year MA
- Meeting the lower channel of the LGC
- Measured target for a head and shoulders [on shorter term charts]
- Measured 50% real retracement of the recent parabolic spike."
According to the Gauss channel, Bitcoin will gradually decline towards $ 25,000. This indicator is used to represent the lows and highs of the price. The success of this usually allows analysts to make correct predictions.
The decline of the Bitcoin price from this point to $ 25,000 means an unprecedented decline in the crypto money industry.