Analyst Predicts Bitcoin Could Rally Above $150,000 in 2021
An analyst who accurately predicted the end of the 2021 crypto bull market now believes that Bitcoin’s rally above $150,000 this year is feasible.
Bullish Continuation Pattern for Bitcoin
Pseudonymous analyst Dave the Wave, known for his insights on social media platform X, suggests that Bitcoin is showing a bullish continuation pattern on the weekly chart. This pattern indicates a potential breakout surge for BTC.
According to Dave the Wave:
“BTC cup and handle anyone? Some are calling it an inverse head and shoulders pattern, but I see it as a cup and handle. The weaker ‘shoulder’ at the top signifies a maturing market.”
Predictions and Market Analysis
Earlier this year, Dave the Wave forecasted that Bitcoin would reach $160,000 before the year ends. He now believes that Bitcoin’s two-year uptrend is sustainable, with each rally supported by consolidation phases that pave the way for further upward movement. The analyst sees a strong foundation for Bitcoin to achieve new all-time highs.
He explains:
“The market’s ability to sustain higher prices over time indicates a maturing market. Unlike previous cycles, the current stability at elevated price levels suggests a more sustainable growth trajectory.”
As of now, Bitcoin is trading at $108,805.
Follow us on X, Facebook, and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Generated Image: Midjourney