The pseudonymous trader tells his 139,000 Twitter followers that LTC may be gearing up for a breakout from a triangle pattern, while simultaneously, Bitcoin bounces off a key support level.
“LTC threatening to go on a runner…
As they say, ‘Don’t marry a coin.’ This allows you to diversify a bit, hedge your bets, take some profits on volatility while also staying long your main BTC investment.”
Zeroing in on Bitcoin, Dave the Wave says that BTC is still on track for a scenario he called for back in February of this year. The potential scenario suggests Bitcoin going on a five-wave impulse to the upside, completing in late 2024 or early 2025 at around the $150,000 level.
“BTC impulse wave scenario still on track four months later…”
Earlier this month, Dave the Wave said that massive gains were now on the table for Bitcoin, based on a combination of his logarithmic growth curve model and Fibonacci levels.
“With a consensus building that the BTC bottom is in, the question increasingly raised is what could the next top be. A proportionate response within the parameters of the LGC (logarithmic growth curve)… performing since 2018.”
At time of writing, Bitcoin is trading for $30.575.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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