Crypto Trader Reveals Next Bitcoin Price Target Amidst Correction

Crypto Trader Reveals Next Bitcoin Price Target Amidst Correction

Crypto analyst Dave the Wave predicts that Bitcoin is consolidating within the “buy zone” of his logarithmic growth curve (LGC), with a potential milestone of $32,000 and a conservative end-of-year target of $40,000.

A trader known for plenty of amazing accurate calls in the cryptocurrency space reveals that Bitcoin (BTC) is gearing up for its next upside target.

The pseudonymous analyst known as Dave the Wave tells his 138,000 Twitter followers that Bitcoin (BTC) is as of now consolidating within the “buy zone” of his logarithmic growth curve (LGC).

Dave the Wave’s LGC intends to estimate BTC’s longstanding highs and bottom Line throughout its lifetime while ignoring short-term volatility. Reports by the analyst’s “buy zone,” anything approximately below $31,000 is still a great deal for BTC.

“Further consolidation?

Plenty of technical support in the Bitcoin LGC buy zone.”

The closely followed analyst says that according to its current market structure, the following major milestone for BTC, which could likewise signal a breakout from its consolidation channel, is $32,000.

“Technically, a good-looking Bitcoin picture…. and still in the LGC buy-zone.

The following milestone to cross – 32K.”

Source: Dave the Wave/Twitter

Dave the Wave reveals that if price keeps grinding up along the same level of support as it has, a conservative price target would be approximately $40,000 by the end of the year.

“ In the meantime  Bitcoin price chugs along.

If the present tendency is observed through to the end of the year, looking at 40K odd…

Btw, and that would be the lowest of the present channel…”

Source: Dave the Wave/Twitter

At the moment of writing, Bitcoin (BTC) is currently worth $26,889, down 2 percent on the week.

Featured Image: Shutterstock/AnnstasAg/Chuenmanuse


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