A well-known crypto trader, who goes by the pseudonym Dave the Wave, is making bold predictions about Bitcoin’s price movement. With a track record of accurately calling market tops and bottoms, Dave believes that BTC is on track to reach $180,000 in this current cycle.
Using Gaussian channels as trend indicators, Dave points to Bitcoin’s price trajectory on the weekly chart. He predicts that Bitcoin will reach his target price by December 2025, when the median line of the Gaussian channel peaks. Despite recent volatile price swings, the analyst remains confident that BTC can continue to climb higher.
Referring to a chart analysis, Dave suggests that Bitcoin’s recent price fluctuations are not cause for alarm and that the market can absorb such movements. He also notes that Bitcoin’s current price is around $91,650, reflecting a nearly 5% increase in the past day.
Drawing parallels to a previous correction in August 2024, Dave highlights similarities in Bitcoin’s recent price action. He mentions a 38% correction from the recent upward move, indicating potential entry and exit points based on the Fibonacci retracement tool.
Looking ahead, Dave predicts that a deep drawdown could pave the way for Bitcoin to rally towards $180,000 by the end of the year. This bullish outlook aligns with his previous successful calls on Bitcoin’s market movements.
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As always, it’s essential to conduct thorough research and consider various factors before making investment decisions in the volatile world of cryptocurrency. With expert analysis and insights from traders like Dave the Wave, investors can navigate the market with more confidence and clarity.