A trader known for plentyย of amazing accurate calls in the cryptocurrency space reveals that Bitcoinย (BTC) is gearing up for its next upside target.
The pseudonymous analyst known as Dave the Wave tells his 138,000 Twitter followers that Bitcoinย (BTC) is asย ofย now consolidating within the โbuy zoneโ of his logarithmic growth curve (LGC).
Dave the Waveโs LGC intendsย to estimate BTCโs longstanding highs and bottomย Line throughout its lifetime while ignoring short-term volatility. Reportsย by the analystโs โbuy zone,โ anything approximately below $31,000 isย still a great deal for BTC.
โFurther consolidation?
Plentyย of technical support in the Bitcoin LGC buy zone.โ
The closely followed analyst says that accordingย to its current market structure, theย following major milestone for BTC, which could likewise signal a breakout from its consolidation channel, is $32,000.
โTechnically, a good-looking Bitcoin pictureโฆ. and still in the LGC buy-zone.
Theย following milestone to cross โ 32K.โ
Dave the Wave reveals that if price keeps grinding up along the same levelย ofย support as it has, a conservative price target would be approximately $40,000 by the end of the year.
โ Inย theย meantimeย Bitcoin price chugs along.
If theย present tendency is observed through to the end of the year, looking at 40K oddโฆ
Btw, and that would be theย lowest of theย present channelโฆโ
Atย theย momentย ofย writing, Bitcoinย (BTC) is currentlyย worth $26,889, down 2 percent on the week.
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