Veteran crypto traders who have a history of correctly predicting Bitcoin market tops, bottoms and cycles still believe that BTC will hit $180,000 in this cycle.
Dave the Wave, a pseudonymous social media analyst with 148.500 followers told his platform X fans that Bitcoin is currently “rumbling along the weekly Gaussian.”
Gaussian Channels are indicators of trend that can help identify tops and lows in prices.
The trader predicts that BTC’s price will reach its target by December 2025, when the Gaussian median channel reaches the highest point.
Analyst also says that Bitcoin price fluctuations are normal and BTC is still capable of moving higher, despite volatility.
The market seems to have reached a new alarming level… after the recent …. But the BTC chart is able to absorb such nonsense.”
Bitcoin has risen by nearly 5% since yesterday to $91,650.
Dave the Wave said last week that BTC could be following the same path as its correction in August 2024 when it dropped to the Fibonacci 0.382 level, before starting new rallies.
“Now a real 38% correction to the last move upward.”
The Fibonacci ratio is used by traders to identify potential entry and departure points.
Dave the Wave also said that a Bitcoin rally of around $180,000 will be possible by the end the year, if there is a significant drawdown.
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The post This is How Bitcoin Will Hit $180,000 in This Cycle According to the Analyst Who Called 2021 top may be updated as new information becomes available.
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