Bitcoin Crash

Crypto Strategist Who Predicted May 2022 Bitcoin Crash Says One Top-Five Altcoin Set To Plummet by Over 80%

A widely followed crypto analyst who predicted the Bitcoin (BTC) crash in May 2022 says that Binance Coin (BNB) is on the verge of collapsing.

Pseudonymous crypto trader Capo tells his 697,100 Twitter followers that the giant crypto exchange’s native token BNB is likely to plummet by more than 80%.

“Adding the last part to the BNB short, average entry: $265. Main target remains $40-$45. This is a swing trade with very low leverage, not financial advice.”

Source: Crypto Capo/Twitter

Looking at Capo’s chart, he predicts BNB to first plummet to the $125 to $135 price level, followed by a collapse to the $40 to $45 price level heading into June.

At time of writing, BNB is changing hands at $258.

Capo also continues to predict that Bitcoin will soon dip this year by more than 28% from its current value to a low of $12,000, after trading sideways in the mid to high $16,000 range.

“$16,600, $16,800, $16,600, $16,800, $16,600, $16,800… And when you least expect it… $12,000.”

In looking at Capo’s chart, he predicts Bitcoin will dip to $12,000 and altcoins by 50% to 60% before the spring. Per his chart, once bottoming Bitcoin will likely rally to exceed $20,000 heading into May.

“A chart is worth a thousand words.”

Source: Crypto Capo/Twitter

He also says any near-term rally by Bitcoin will act as a bull trap, similar to the price action of 2022.

“It takes a tiny pump into resistance to turn everyone bullish again. This same bull trap has been happening during the entire 2022, yet people don’t learn. $12,000 is very likely.”

Source: Crypto Capo/Twitter

At time of writing, Bitcoin is changing hands at $16,856.

Generated Image: Midjourney

   
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Trader Who Called Bitcoin Crash Says BTC Could Easily Rally to $160,000 – Here’s His Timeline

A crypto analyst who nailed Bitcoin’s (BTC) collapse last year predicts a massive surge for the king crypto.

The analyst known in the industry as Dave the Wave tells his 131,900 Twitter followers that based on his logarithmic growth curve (LGC) model, Bitcoin could ascend to $160,000 by January 2025.

“On the basis of the LGC, which has stood the test of time for four years, BTC could easily do a 10x over the next couple of years…”

Source: Dave the Wave/Twitter

The LGC model is the analyst’s attempt to predict the cycle highs and lows of Bitcoin amid changing macroeconomic conditions.

According to the crypto strategist, the LGC and his prediction remain valid as long as Bitcoin stays above the support of the model on a multi-month basis.

“As to when the LGC could be invalidated by future price – a multi-month close significantly below the base curve as it’s a macro model.”

Dave the Wave also says the LGC model continues to track the price action of Bitcoin despite the gloom and doom surrounding the crypto markets.

“So far, the base of the BTC LGC has proven to be the best support of price.

The increasing real correction of the cycles [23% – 38% – 50%] is implicit in the chart from a year back…

Breaking? Confirming rather.”

Source: Dave the Wave/Twitter

He also believes the baseline of the model will continue to act as support just as the top of the LGC served as resistance during the last bull market.

“The previous ‘bubble’ is effectively ‘popped.’ It is quite something else in the aggregate. Where the speculative excess culminates in a series of punctuated peaks, the corrections serve to provide a baseline of sorts, with this baseline representing a logarithmic growth curve.”

At time of writing, Bitcoin is changing hands for $15,507, a fractional dip on the day.

   

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Crypto Strategist Who Nailed May 2021 Bitcoin Crash Says Worst Could Be Over for BTC Amid Depressed Sentiment

A crypto strategist who correctly called Bitcoin’s (BTC) collapse in May 2021 says one indicator suggests that the king crypto may have already witnessed the worst of the bear market.

Pseudonymous analyst Dave the Wave tells his 131,700 Twitter followers that BTC’s monthly histogram continues to respect a support level that has marked the bottom of the 2015 and 2018 bear markets.

Traders use the histogram to spot changes in momentum and potential price reversals.

Says Dave the Wave,

“The worst of it is over if the BTC monthly histogram is anything to go by. The technical analysis corrects the sentiment, which swings wildly with depression at the bottom to match euphoria at the top.”

Source: Dave the Wave/Twitter

The analyst is also keeping an eye on Bitcoin’s moving average convergence divergence (MACD), a momentum indicator that could potentially hint at a trend reversal. According to Dave the Wave, BTC’s weekly MACD remains above a support level that has also signaled the end of the 2015 and 2018 bear markets.

“Despite the recent sell-off, the weekly MACD still remains crossed above its signal line. Technically, a good sign.”

Source: Dave the Wave/Twitter

In short term, the analyst predicts a Bitcoin rally toward $19,000 after the king crypto breached its immediate resistance at $17,300.

“Noice…”

Source: Dave the Wave/Twitter

At time of writing, BTC is changing hands for $17,796, a 3.42% increase on the day.

   

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Analyst Who Called May 2021 Bitcoin Crash Predicts Epic Rally to $350,000 – Here’s His Timeline

The crypto strategist who correctly called Bitcoin’s (BTC) collapse in May 2021 is predicting a meteoric ascent for the king crypto in the coming years.

Pseudonymous analyst Dave the Wave tells his 130,200 Twitter followers that Bitcoin could ascend to $350,000 by December 2027 based on his logarithmic growth curve (LGC) model.

“Though $350,000 might be…”

Source: Dave the Wave/Twitter

According to Dave the Wave, the LGC model is designed to follow Bitcoin’s long-term uptrend amid changing macroeconomic forces.

The crypto strategist also notes that the LGC model has held up so far despite wild swings in investor sentiment.

“BTC.”

Source: Dave the Wave/Twitter

Looking at the investor’s chart, the range high of the model continues to serve as resistance even as market participants were extremely bullish on BTC in 2018 and in 2021. The chart also shows that the lower boundary of the model is currently acting as support despite the extreme bearish sentiment on BTC.

Dave the Wave highlights that the LGC can keep investor expectations more aligned with the markets during periods when BTC is trading near the top or bottom of the model.

“It’s easy to say up up up at the top, and down down down at the bottom. Not so easy is to say down at or near the top, and up at or near the bottom. The LGC fixes this.”

Source: Dave the Wave/Twitter

At time of writing. Bitcoin is trading at $17,071, hovering slightly above the support level of the LGC model.

   

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Analyst Who Nailed May 2022 Bitcoin Crash Forecasts 50% Drop for Two Large Cap Crypto Assets

A widely followed crypto analyst who predicted the Bitcoin (BTC) crash in May 2022 says that two top-10 digital assets could soon face steep drops in price.

Pseudonymous crypto trader Capo tells his 677,000 Twitter followers that he expects the leading smart contract platform Ethereum (ETH) to correct somewhere between $600 and $650.

Source: Capo/Twitter

The second-largest crypto asset by market cap is changing hands for $1,218 at time of writing, a 2.64% increase during the last 24 hours. A pullback to Capo’s price prediction would represent about a 50% drop for ETH.

The strategist then turns his attention toward Binance Coin (BNB), the native asset of Binance, the world’s largest crypto exchange platform by volume. Capo envisions the token plunging to the $125 to $135 range should BNB break below $250 and confirm it as resistance.

Source: Capo/Twitter

BNB is currently valued at $308. A price drop to the trader’s bearish price target would mark a nearly 60% correction for the crypto asset.

While Capo is bearish on Ethereum and BNB, prominent market intelligence firm Santiment says that the crypto markets, including ETH, could rise as traders show signs of capitulation. The insights company highlights that traders are currently bearish on crypto, which it notes could create an atmosphere where markets could bounce.

“The word ‘dead’ has been rapidly circulating around crypto platforms in November. As one of the more bearish sentiment words, this is a sign of traders giving up on markets rebounding. Ironically, this capitulation is historically when markets rebound.”

Santiment also looks at the whale and shark activity centered around ETH, saying that the deep-pocketed entities are gobbling up the largest altcoin at the most significant rate in two years.

   

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Strategist Who Predicted May 2022 Bitcoin Crash Forecasts What’s Next for Crypto Markets

A popular crypto analyst who accurately predicted Bitcoin’s (BTC) crash in May 2022 is forecasting what’s next for BTC and the crypto markets.

Pseudonymous crypto trader Capo details to his 676,000 Twitter followers what could happen to the crypto markets during both higher and lower time frames.

The higher time frame includes one-hour to one-day charts while the lower time frame includes one-minute to 15-minute charts. Looking at BTC’s chart, Capo says that he expects a bull trap during the lower time frame and lower lows and lower highs during the higher time frame.

He notes that he expects the king crypto to form a local bottom at the $12,000 to $14,000 price range.

“BTC. Higher time frame: lower lows and lower highs after breaking a monthly redistribution range. Below June’s low and at [the] supply zone. Lower time frame: weak trend caused by a short squeeze (bull trap). Volume dying. $12,000-$14,000 remains the main target for a local bottom formation.”

According to Capo, the crypto industry is rife with bearish signals, causing him to think that altcoins could follow BTC’s downward trend and dip 40% to 50%.

“What I see:

-Bearish retests everywhere.

-Hidden bearish divergences on several timeframes.

-Bounces showing clear bull trap characteristics.

-Supply coming in (a lot)

-People euphoric with prices at $16,000s… $12,000-$14,000 [for BTC] is a matter of time.

40-50% drop on average for altcoins.”

Another prominent crypto strategist, Michaël van de Poppe, is also predicting that the king crypto will face resistance in the near future, saying that he believes BTC must hold the $16,250 to $16,400 level to flourish.

“Bitcoin [is] still facing crucial resistance, which it can’t crack yet. Slight consolidation taking place. Another test at $16,900 and most likely acceleration happens with all the stops going to be taken.

Aiming for $18,4000 then.

Must-hold; $16,250-$16,400.”

BTC is changing hands for $16,611 at time of writing, a 1.7% increase during the last day.

   

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Crypto Analyst Who Accurately Called 2022 Bitcoin Crash Sets New Price Targets for BTC and Cardano

The widely followed crypto analyst who nailed this year’s Bitcoin (BTC) collapse says the king crypto is likely on its way to new bear market lows.

The pseudonymous analyst Capo tells his 665,000 Twitter followers that he believes rallies in the crypto markets are meant to trap bulls.

“What I see:

-Technicals looking bad ([BTC] price below June’s low, indicators bearish, funding reset…)
-Same bull traps as always, but even weaker. People falling for them.
-Comments like ‘You are going to miss the train.’ Really?

This is not over. Final capitulation is likely.”

Looking at Bitcoin, Capo believes that a drop to lower levels will happen in the near-term.

“Good morning! BTC to $12,000-$14,000 is a matter of time. Altcoins much lower (40%-50% drop on average).”

The crypto strategist also shares that chart that supports his bearish thesis, showing that BTC has flipped support at $17,600 into resistance.

“A chart is worth a thousand words.”

Source: Capo/Twitter

Based on Capo’s chart, he predicts Bitcoin would ignite a steep recovery after hitting his capitulation target between $12,000 and $14,000. At time of writing, Bitcoin is changing hands for $16,654, down 1.41% on the day.

Shifting his focus to smart contract protocol Cardano (ADA), Capo sets a price target in the range between $0.16 and $0.20 for the Ethereum (ETH) rival.

“ADA.”

Source: Capo/Twitter

At time of writing, ADA is trading hands at $0.324, suggesting an over 50% downside potential for Cardano.

   

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Trader Who Called 2018 Bitcoin Crash Unveils Ultimate BTC Bottom, Predicts Most Traders Will Be Caught off Guard

The crypto trader who correctly called Bitcoin’s (BTC) collapse in 2018 is unveiling what he thinks is the king crypto’s absolute bottom.

In a new strategy session, veteran trader Tone Vays tells his 123,000 YouTube subscribers that he believes Bitcoin has “very likely” established a bear market bottom when it printed a fresh 2022 low of $15,546.

“I still think we have a bottoming process that we’re going through right now, and this is very likely to be the ultimate low ($15,546). The reason it is very likely to be the ultimate low is that nobody thinks it’s the ultimate low. Like 99% of people are convinced we’re going lower, and that’s why I think we’re not going to go lower because everyone is so sure we’re going to $11,000 or something.”

In addition to gauging overall market sentiment, Vays says that one of his favorite indicators is signaling a potential reversal for Bitcoin.

The trader says the Chaikin Money Flow (CMF), an indicator that tracks whether market participants are accumulating an asset, is flashing a bullish divergence.

“Here’s one of the best charts that I’ve seen in a while. Even though we did crash on a weekly scale, look at the amazing CMF divergence. So this is telling me that under the hood, things are actually bullish. I really like seeing CMF divergence. It’s one of my favorite indicators to identify potential reversals…

I love the fact that the CMF is almost green even though the price is still in a complete and utter disaster.”

Source: Tone Vays/YouTube

At time of writing, Bitcoin is changing hands for $16,729, up 2.38% on the day.

   

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Indicator That Called the 2020 Bitcoin Crash Says It’s Time to Buy BTC

The TD Sequential indicator that predicted the top of the crypto market prior to the COVID-19 crash says it’s time to buy Bitcoin.

Trading, in general, has been one of the most exciting aspects of the cryptocurrency market. Likewise, trading indicators have been curated to act as tools to help traders make detailed predictions on potential price movements—something that has developed and grown alongside the growth of crypto.

Understanding these indicators, how they work, and what and when to use them are essential to get started.

One such indicator is the TD Sequential indicator created by Tom DeMark. DeMark indicators are designed to anticipate turning points in the market.

What is it?

The TD Sequential indicator is used to analyze price data to determine the strength or weakness of a market trend and the likelihood of a reversal. The countdown phase of the Sequential indicator measures the depletion of buyers and sellers as determined by the direction of the existing trend.

The official website states:

“Through a multi-phase price comparative process consisting of the Setup and Countdown indicators, the Sequential indicator analyzes otherwise incongruent price data to provide insight into the strength or weakness of the market’s trend and its likelihood of reversing.”

It is a counter-trend tool that solves the problem of several TA indicators that are profitable during trending markets but perform very poorly in ranging markets. It can be used in any timeframe and in any market conditions.

Key features of this indicator include:

(1) The TD Sequential can be used in any timeframe and any financial-traded asset

(2) It includes two phases: The setup phase (9-count) and the Countdown phase (13-count)

(3) The TD Sequential will work only in Japanese Candlesticks or a Bar chart

(4) Timewise, the TD Sequential is ideal for the early recognition of key market turning points

(5) The TD Sequential generates support and resistance levels

(6) The rules of TD Sequential can be easily modified. Therefore, there are many variations

How does it work?

This indicator incorporates nine steps, as mentioned on the website. But to make it easier, Hackernoon suggests focusing on a few main points. The first is to look for a pattern of nine candlesticks, where each close has a higher or lower value than its fourth predecessor candle’s relative value.

Here’s an example showing a buy recommendation:

Source: Hackernoon

This occurs when there are nine consecutive closes lower than the close of 4 bars prior. An ideal buy is when the low of bars 6 and 7 in the count is exceeded by bars 8 or 9.

On the contrary, here is an example of a sell recommendation:

Source: Hackernoon

An ideal sell signal is when the highs of bars 6 and 7 in the count are exceeded by the highs of bars 8 or 9.

Expectations vs. reality

Various analysts have vouched for the precision of this indicator. One of these analysts is the founder of the investment advisory firm Hedge Fund Telemetry, Thomas Thornton.

A deep dive into the analyst’s past incorporating the TD Sequential indicator compared to what happened over the years can shed more light on the accuracy aspect.

Starting in 2020, while many traders remained bullish on Bitcoin, the indicator suggested that bears may continue to assert control over the crypto market and that a more substantial pullback would occur.

Thornton confirmed that this technical signal, coupled with Bitcoin being overbought, was a sign that investors would start selling their longs and flipping neutral.

Bitcoin did see a correction after trading at $10,323 on Feb. 13, 2020. BTC would eventually drop all the way back to a low of $3,860 a month later.

The current phase of Bitcoin

The same analyst is now claiming that the Bitcoin bottom could be in, based on the TD Sequential indicator readings.

Per Thornton, a potential for Bitcoin to move up to a price of $17,820 could be possible. However, he urged traders to trade with small sizes and use $15,000 as a stop.

BeInCrypto reached out to the analyst for a comment. Thomas Thornton stated:

“The signal might work again. I still believe there are many big risks with counterparty and liquidation risks. Add in regulators and politicians getting involved makes it very difficult, so if buying use $15,000 as a stop and trade with no more than 5% size of your portfolio – that is what I have telling my subscribers.”

At the time of press, Bitcoin was trading at slightly below $16,000 after another 5% correction.

   

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Analyst Who Called May 2021 Bitcoin Crash Says BTC Can Absorb Most Horrendous News

The crypto strategist who accurately predicted Bitcoin’s collapse last year believes BTC can handle even the most unfavorable developments.

Pseudonymous analyst Dave the Wave tells his 130,200 Twitter followers that crypto markets are facing a huge loss of public credibility after crypto exchange FTX filed for bankruptcy.

However, the analyst also reminds his followers that Bitcoin has managed to stay on a long-term uptrend even in the face of death knells in the past.

“One positive is the speculative instinct [for good and bad and ugly] has a short memory and tends to dominate in now fearful now greedy markets. Translation: don’t underestimate the speculative beast underlying the BTC market… as reflected in the LGC (logarithmic growth curve) that has shown the capacity to absorb the most horrendous news and acts.”

Source: Dave the Wave/Twitter

The crypto analyst also points out that Bitcoin’s price and logarithmic moving average divergence (LMACD) indicator is flashing a bullish divergence on the weekly chart.

The LMACD indicator is designed to reveal changes in an asset’s trend, strength and momentum.

“BTC bullish divergence on the weekly. ‘A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again – often a bullish divergence marks the end of a downtrend.’”

Source: Dave the Wave/Twitter

Dave the Wave also highlights that Bitcoin has remained in his accumulation levels even amid the catastrophe sparked by FTX.

“BTC macro context:

volatile price – during the whole of the FTX-sparked debacle – has remained in the buy zone.”

Source: Dave the Wave/Twitter

At time of writing, Bitcoin is trading at $16,717, up 1.10% on the day.

   

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