With Bitcoin breaking through new all-time highs, a closely followed crypto trader is expecting bullish BTC continuation while one altcoin on his radar prepares for liftoff.
Crypto market strategist Dave the Wave tells his 82,700 Twitter followers that Bitcoin is appreciating within a rising channel with an upside around $75,000 and a downside around $55,000. In the short term, he expects BTC to jump up to $70,000 before consolidating further.
“Short term. Price still within the rising channel. To the 70K area followed on by a consolidation wouldn’t surprise me.”
Over the next several months, Dave the Wave is anticipating Bitcoin to climb in that same channel all the way up to $100,000.
“Add in the time [Fibonacci] ratio and the price ratio hits the top of the [Logarithmic Growth Curve]…”
At time of writing, BTC is trading at $67.591.
As Bitcoin continues its ascent higher, the trader is also keeping a close eye on the low-cap altcoin Verge (XVG). Verge is a privacy-focused blockchain seeking to offer a fast and efficient decentralized payments network that improves upon the original Bitcoin blockchain.
Currently, XVG is trading at just $0.026. From its current price level, Dave the Wave is calling for a more than 8,300% move as the bull run progresses into 2022, which would land the token at $2.00.
“Freebie from my alts page.
Looks to be coiling for a breakout.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/mythja/Natalia Siiatovskaia