Oy vey! Another crypto “expert” 🙄, this time one who totally nailed the 2021 Bitcoin crash (probably by sheer dumb luck!), says Bitcoin is building a “durable base”. Durable, like my grandma’s dentures? Let’s hope so!
This genius, “Dave the Wave” (sounds like a surfer dude who got lost in the stock market!), with his gaggle of 149,300 followers on X (formerly known as Twitter, but who cares?), claims Bitcoin is morphing into an inverse head-and-shoulders pattern. I think my barber sees those on my head every morning!
Apparently, this “head-and-shoulders” thingy is super bullish! It means the buyers are so desperate, they can’t even wait for a decent dip before throwing their shekels at it! Fools! 🤑
Davey-boy here sees Bitcoin hitting $89,000 (mazel tov!), then a little ouchie down to $77,000, before rocketing to a new all-time high above $110,000! That’s like saying I’ll lose weight by eating only cheesecake… possible, but highly unlikely! 🤣
“With a push through the first line of resistance, the neckline of a possible BTC reverse [head and shoulders] would be formed… a great basing pattern.” Yeah, yeah, great basing pattern… sounds like a fancy way of saying “I’m guessing!”
He also thinks Bitcoin’s “long-term uptrend” is still intact! Even though everyone’s screaming “the sky is falling!” 🙄 He says the price action suggests the correction is almost over. Almost over, like my patience for this article!
“The year rolls on, and so does the chart. Any objective observer of the chart, unfamiliar with the market and not being caught up in it, will no doubt wonder what the panic is regarding price [yes, people can be emotionally detached toward Bitcoin]. Their initial impression of the chart would be a visual one, seeing a regular series of moves and corrections, and they would most likely incline toward seeing the price currently at the end of yet another correction.
And yet most of those more closely tied to the market, watching its every daily move in price, are currently in a state of near panic. The explanation of this phenomenon, in my opinion, is collective/crowd sentiment on the one hand, and ‘money illusion’ on the other.” In other words, people are nuts! 😂
As of this very second, Bitcoin is worth $83,500. So, should you bet the house? Eh, maybe just a bagel. 🥯
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2025-04-16 10:22