The article discusses a warning from analyst Dave the Wave that Bitcoin is showing bearish signals and may experience a downside correction. The analyst points to Bitcoin's MACD indicator on the weekly chart, suggesting that a reset is imminent after a bearish cross. He believes that Bitcoin could fall below $90,000, with a potential target of $80,000 based on the 0.382 Fibonacci level. Despite his short to mid-term bearish outlook, Dave the Wave remains a long-term Bitcoin bull, predicting a rally to $260,000 before 2025. At the time of writing, Bitcoin is trading at $95,503.



Other News from Today