A trader predicting the crypto market crash in 2021 Bitcoin is preparing for a rally in your opinion.
Crypto analyst with the pseudonym Dave the Wave tells his followers on Gaussian channels are momentum indicators that can be used to identify price reversals.
So far, the BTC monthly Gaussian channel has served as a springboard for the price.
Looking at its chart, the trader marks previous instances where BTC has reached the Gaussian channel on the monthly chart. Based on these examples, BTC tends to rise after respecting the technical indicator as support.
The trader also says that the beginning of 2024 could spark a Bitcoin surge as price action forms an ascending triangle formation. On January 1, Bitcoin surpassed the $45,000 level for the first time since 2022.
However, the trader notes that most people do not expect BTC to quickly rise to new all-time highs.
Bitcoin is trading at $45,123 at press time, up 3.3% in the last 24 hours.