- Trader Issues Warning to Bitcoin Bears: A pseudonymous trader and analyst called Dave the Wave has issued a warning to Bitcoin bears, saying now is not the time to be overly cautious on BTC.
- Ethereum Chart: Dave the Wave also shared Ethereum’s chart, implying that the leading smart contract protocol is within the later stages of an ascending triangle, suggesting a potential trend reversal if the price takes out the pattern’s horizontal resistance at around $2,300.
- BTC Support Levels: Last month, Dave said that strong support levels were sitting between $26,000 and $22,000 for BTC. According to him, BTC is still respecting these support levels despite the recent market downturn.
Trader Issues Warning To Bitcoin Bears
Pseudonymous trader and analyst Dave the Wave has warned Bitcoin bears that now is not the time to be overly cautious on BTC. He tells his 138,500 Twitter followers that being too cautious right now when prices are low would be counter-productive. He suggests asking whether those who are over-cautious now were over-optimistic at the top.
Ethereum Chart Analysis
Dave shared Ethereum’s chart which suggests that it is within the later stages of an ascending triangle. This generally bullish pattern suggests a potential trend reversal if ETH breaks through its horizontal resistance at around $2,300.
Support Levels For Bitcoin
Last month, Dave said that strong support levels were sitting between $26,000 and $22,000 for Bitcoin (BTC). Despite recent market downturns he asserts that BTC is still respecting these support levels.