A popular trader who accurately called Bitcoin’s (BTC) May 2021 crash is laying out a technical target for the top crypto asset to reach in order to be in position for a huge rally late next year.
Pseudonymous analyst Dave the Wave shares a chart with his 142,600 followers on the social media platform X that indicates BTC could surge to the $70,000 level around mid-September of 2024.
If BTC hits that $70,000 level by next September, Dave the Wave’s chart indicates Bitcoin could explode on a similar rally to the one it witnessed back in 2017, which saw the top crypto asset skyrocket from around $1,400 in May to nearly $20,000 that December.
Dave the Wave notes that such a target is also consistent with Bitcoin’s principle of diminishing returns. He also shares another chart that shows BTC surging to the $180,000 range by April 2025, which would represent a more than 400% increase from its current price point.
Bitcoin is trading at $35,375 at time of writing. The top-ranked crypto asset by market cap is up by more than 26% in the past 30 days.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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.
Generated Image: DALLE3