Outstanding cryptocurrency analyst Dave Wave provided a bullish narrative for Bitcoin despite the recent failure of the flagship cryptocurrency. As part of his analysis, he suggested how high Bitcoin could rise in the brief and long term.
Bitcoin will rise up to $300,000
Dave Wave suggested in X (formerly Twitter) post that Bitcoin could rise as high as $300,000 based on its logarithmic growth channel (LGC) indicator. Based on the chart he shared, BTC’s rise to this unprecedented price level is expected to occur sometime in 2025.
Meanwhile, in the brief term, Dave the Wave expects Bitcoin to do just that grow above $100,000 later this year. He highlighted the rising diagonal line that Bitcoin continues to hold as support even after it recent drop below $67,000. As such, the analyst believes that the flagship cryptocurrency will remain in a multi-month uptrend as long as it stays above the line.
Rekt Capital cryptocurrency analyst also suggested that there is no need to worry about Bitcoin withdrawal, stating that the current rollback will not last forever. Actually him he noticed that everything is going according to plan because Bitcoin’s withdrawal was long overdue based on “historical trends.”
The analyst expects Bitcoin to continue consolidating in this reaccumulation range for some time. Rekt Capital predicts that a breakout into the “parabolic uptrend” phase will probably occur in September this year, if history repeats itself. This is in line with Dave the Wave’s prediction that Bitcoin will rise above $100,000 later this year.
Rekt Capital also warned Bitcoin investors against being dumped from their positions. He he stated that Bitcoin will soon enter “increasingly scary territory” as its price drops to just $60,000. He added that this “fear usually precedes the moment when maximum financial potential is reached.” In another Post Xhe noted that Bitcoin will move back far enough to convince anyone that running of the bull will come to an end, and then the flagship cryptocurrency will resume its upward trend.
BTC still on the course
Mikybull Crypto cryptocurrency analyst also shared an opinion similar to Rekt Capital. He he stated that BTC is still in this range and advised investors not to get sidetracked. The analyst has done this before called be patient as BTC consolidates in this range. He highlighted the wedge, which he claimed would send Bitcoin’s price to initial goal of $85,000 when will the breakout occur?
Jelle cryptocurrency analyst Also he suggested that it’s time for Bitcoin investors to do nothing and just sit on their hands. The analyst shared his profit taking strategywhich showed that Bitcoin investors should only look for profits when the flagship cryptocurrency rises to $80,000.
Featured image created with Dall.E, chart from Tradingview.com
