Analyst Dave the Wave predicts that Bitcoin is nearing a potential "waterfall event" and is currently testing support at around $90,000. He expects Bitcoin to follow a similar pattern to its late 2024 price action, where it fell to the 0.382 Fibonacci level before experiencing a significant upward movement. Dave the Wave's chart suggests that BTC may fall to around $80,000. He is closely monitoring the moving average convergence divergence (MACD) indicator on the weekly chart, which he believes will hit the zero line level and reset en route to reaching the 0.382 Fibonacci level. Despite his bearish outlook for the coming months, Dave the Wave believes this deep downturn will set the stage for a rally that could push Bitcoin to around $180,000 by the end of the year.



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