Bitcoin Trader Dave the Wave Predicts BTC Will Revisit the 'Buy Zone” Before Igniting a Renewed Rally

Pseudonymous analyst Dave the Wave tells his 146,700 followers on the social media platform X that BTC may revisit the “buy zone” of his logarithmic growth curve (LGC) model before carving a local bottom.

A cryptocurrency trader who predicted the Bitcoin (BTC) crash of May 2021 believes that BTC may experience further downside price action before beginning a new rally to reach new all-time highs.

The pseudonymous trader, known as Dave the Wave, shared his analysis with his 146,700 followers on the social media platform X, suggesting that BTC could return to the “buy zone” on his logarithmic growth curve (LGC) model before forming a local bottom.

The LGC model is designed to predict Bitcoin’s longer-term cycle lows and highs by filtering out shorter-term volatility.

According to Dave the Wave’s analysis, BTC may be echoing its price action in early 2017, which saw a 40% correction before the cryptocurrency began a parabolic surge.

“A similar 40% drawdown just N of the 0.38 Fib would see $44,000… putting BTC back on the trendline & the LGC buy zone.”

Dave the Wave notes that the deep corrective move will ultimately benefit Bitcoin in the long term. The trader claims that the drawdown would position BTC for a 400% surge to his bull market price target of $220,000 by the end of 2025.

“Short-term BTC pain, long-term gain.”

The trader adds that downside volatility is to be expected during a Bitcoin bull market.

“BTC’ers got to take the good with the bad… still technically in a bull market… Though one might be confident of the final victory, there can also be a hammering along the way.”

Bitcoin is trading at $57,685 at the time of writing, up over 2% on the day’s chart.

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