Bitcoin’s Next Stop? Analyst Dave the Wave Calls for $160K Surge
Brace for impact—Bitcoin might be gearing up for a moonshot that’d make even Wall Street’s most jaded traders blink. According to analyst Dave the Wave, the crypto king could catapult to $160,000. Yes, you read that right.
No crystal balls here—just logarithmic growth curves and a track record of calling past cycles. But let’s be real: if this plays out, the ’I told you so’ from crypto Twitter will be louder than a memecoin rally.
Meanwhile, traditional finance bros will still be arguing about bond yields.
$108,693 currently fluctuates between $75,000 and $160,000, maintaining support at the $100,000 level is crucial for sustaining this upward trajectory. Despite market downturns, sustained investor interest reinforces confidence in the analyst’s optimistic projections.
ContentsLong-Term MACD Indicator Captures Investor AttentionTargeting $160,000 and Key Support Levels for Bitcoin
Long-Term MACD Indicator Captures Investor Attention
In a chart shared by Dave the Wave, the MACD line and histogram distinctly curve upward following a weakening observed in mid-2024. The MACD’s crossover into the positive region is seen as a classic indicator of strengthening trends. According to the analyst, long-term investors should heed this metric, with historical MACD reversals having triggered significant rallies in past cycles.
From a technical perspective, Bitcoin exhibits a market structure favorable to buyers, characterized by rising lows in weekly candlesticks. However, given the persistent volatility, the analyst advises refraining from panic during short-term pullbacks and recommends observing momentum indicators along with volume confirmation. The fractal similarities in charts align with previous bull market formations, and the analyst highlights the potential of an “underdeveloped right shoulder” keeping prices around the $100,000 mark.
Targeting $160,000 and Key Support Levels for Bitcoin
Dave the Wave argues that current macroeconomic conditions and on-chain data pave the way for bitcoin to test the $160,000 mark within a few months. The increasing investor sentiment and continued institutional purchases validate this broad price range. The analyst underscores that as long as Bitcoin holds above $100,000, the primary bullish structure remains intact, marking this level as both a psychological and technical threshold.
In a potential correction scenario, the $90,000 – $100,000 range is expected to be robustly defended due to residual demand from previous peaks. Dave the Wave notes that a potential rebound from this support level could inject fresh momentum into the market, while urging caution in leverage usage. Furthermore, a break above $110,000 with a weekly close is deemed a critical milestone that could accelerate the path to the $160,000 goal.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.