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.”
With 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…”
Dave 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.”
At time of writing, Bitcoin is trading for $88,133, up over 10% in the last 24 hours.
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Generated Image: Midjourney
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