$BTC

Bitcoin Setting Up for ‘Treasonous’ Correction, According to Trader That Called 2021 Market Cycle

An analyst with a history of making timely Bitcoin calls believes that BTC is on the verge of a correction.

Pseudonymous analyst Dave the Wave tells his 153,800 followers on the social media platform X that Bitcoin may decline to just above a Fibonacci retracement level at $96,000.

Fibonacci retracement levels are a method of technical analysis used to determine an asset’s support and resistance levels.

“The Bitcoinerof the ‘up only’ variety, might find this chart slightly ‘treasonous,’ but the BTC technician will no doubt find it very promising.”