Despite Bearish Mood, Analyst Sees BTC Rally Toward $110K Ahead
One market analyst known for anticipating Bitcoin’s 2021 crash is now suggesting that BTC may be quietly laying the groundwork for its next major breakout.
The pseudonymous chartist known as Dave the Wave has pointed to a potential bullish formation emerging on Bitcoin’s daily chart—an inverse head-and-shoulders pattern. This classic technical setup is often seen as a sign of trend reversal, indicating that buyers are stepping back in after a period of selling pressure.
With a push through the first line of resistance, the neckline of a possible #btc reverse h&s would be formed… a great basing pattern. pic.twitter.com/L8qfQzohuo
— dave the wave🌊🌓 (@davthewave) April 15, 2025
According to his analysis, Bitcoin could first push toward $89,000, followed by a retest of support near $77,000 before entering a new rally phase that could take it beyond the $110,000 mark. He refers to this price structure as a “basing pattern,” suggesting that BTC is slowly building the foundation for a stronger, more sustainable uptrend.
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Despite the bearish mood currently dominating crypto circles, Dave argues that the broader market trend remains intact. He believes many traders are overreacting to short-term price moves, while the larger structure shows typical corrective behavior within an ongoing bull cycle.
He added that an outsider—someone detached from market noise—would likely view the chart and see a series of logical movements, not chaos. “The panic comes from being too close to the market,” he noted, attributing it to collective sentiment swings and what he calls a “money illusion”—the tendency to focus on nominal price fluctuations rather than long-term structure.
In his view, what looks like a crisis to many might just be the calm before the next explosive leg higher.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
