Bitcoin Nears Correction End, Says Veteran Trader
- Trader Dave the Wave suggests Bitcoin is reacting to the 365-day SMA.
- BTC may bottom out at the 365-day SMA for the fourth time since the bull market began.
- The current 365-day SMA for Bitcoin is approximately $74,400.
- Bitcoin is trading at $86,114, about 21% below its all-time high.
- A potential rally to around $180,000 by year-end is anticipated after a deep drawdown.
Veteran trader Dave the Wave indicates that Bitcoin’s current reaction to its 365-day simple moving average could signal an end to its correction phase. At present, Bitcoin trades at $86,114, with expectations of a significant rally later this year.
Source (2.6)https://dailyhodl.com/2025/03/02/heres-how-close-the-bitcoin-bottom-could-be-according-to-trader-that-called-last-market-cycle-top/?rand=59076
