Parabolic Spike in the Cards for Bitcoin (BTC), Says Top Analyst – Here’s His Timeline
A crypto analyst and trader who nailed the 2022 Bitcoin bull market top thinks BTC is rapidly approaching parabolic territory.
Pseudonymous analyst Dave the Wave tells his 147,000 followers on the social media platform X that Bitcoin will likely erupt and witness steep rallies once it shatters a key psychological level.
“The numbers are getting big, but still technically solid. A run to the top of the channel would see BTC break the psychologically important six-figure barrier. Once that’s broken, a parabolic spike is in the cards.”
Source: Dave the Wave/XWith BTC firmly trading above its previous technical resistance at $70,000, Dave the Wave shares a chart suggesting that Bitcoin will continue to hit fresh all-time highs until it reaches $130,000.
“BTC technical target and possible parabolic territory…”
Source: Dave the Wave/XDave the Wave is not the only analyst who thinks Bitcoin is due for much higher prices. Fellow trader Pentoshi tells his 810,900 followers on the social media platform X that Bitcoin has cemented a new uptrend after breaching resistance at $70,000.
“That’s what we call a trend reversal. It starts in the lower time frames, and this is the result in the higher time frames. Seven months of consolidation comes to an end and now we’ve seen breakouts across the board.”
Source: Pentoshi/XAt time of writing, Bitcoin is trading for $88,133, up over 10% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hedera Token Sees $2B Trading Spike Amid 5% Rally
ChatGPT’s head of product to testify in the DOJ’s antitrust case against Google
Share link:In this post: ChatGPT’s head of product, Nick Turley, has been added as a witness for the United States Department of Justice (DOJ) in its antitrust case against Google. Nick Turley is the latest addition to the witness list that features representatives from Perplexity and Microsoft. Google ramps up preparation for Turley’s testimony by asking for documents related to the hearing from OpenAI through a subpoena.
SEC charges New York blockchain engineer over GME rug pull fraud
Share link:In this post: Eric Zhu settled SEC fraud claims for orchestrating a rug pull scheme involving Game Coin. Zhu allegedly misappropriated $553K by moving unlocked liquidity provider tokens to his control. The case marks one of SEC Chair Gary Gensler’s final enforcement actions.