Long-Term Target
Dave the Wave, a renowned trader, predicts that Bitcoin (BTC) could reach a maximum of $205,000 during this market cycle. His analysis uses a logarithmic growth channel (LGC) curve to estimate Bitcoin’s long-term highs and lows.
According to Dave, the LGC model suggests that Bitcoin could peak at 3x its current price, which is approximately $205,000. He notes that Bitcoin has historically been close to its previous highs during halving events.
Short-Term Support
In the short term, Dave observes that Bitcoin is approaching an ascending diagonal level that has provided strong support in the past. He believes that this level could act as a support for BTC’s current price action.
Trading Strategy
Dave suggests that traders consider trading altcoins against USD to take profits while holding onto BTC for the long term. This strategy allows traders to capitalize on the volatility of altcoins while maintaining exposure to Bitcoin’s potential upside.
