Here is how near the Bitcoin bottom, according to Trader, who is called the last market tournament
The veteran encryption trader, which has a history of bitcoin market and calm, says BTC is likely to approach the end of its current correction.
The Dave the Wave 148,000 pseudonym on the social media platform X tells that Bitcoin seems to be interacting with the simple moving average for 365 days (SMA).
His plan suggests that BTC may be about to go out in SMA 365 days for the fourth time since the start of the bull market, which will also coincide with the level of 0.5 Fibonacci.
Traders use the REECent Fibonacci tool to discover possible entry and exit points based on the Fibonacci percentage.
“Follow the yellow brick road …”
At the time of this report, SMA is hovering for 365 days from Bitcoin to about $ 74,400.
Despite the fear that sweeps the markets, the Dave The Wave indicates that BTC may follow the steps of its correction in August 2024 when it decreased to the level of 0.382 Vibonacci before the launch of new marches.
“BTC note.
Now a 38 % real correction of movement is the last time. “
The trader recently stated that he believed that deep clouds will pave the way for Bitcoin to about $ 180,000 by the end of the year.
“Why are things complicated?”
At the time of this report, Bitcoin is traded at $ 86,114, or about 21 % of its highest level ever.
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