A crypto analyst and trader who has reached the top of the 2022 Bitcoin bull market thinks BTC is quickly approaching parabolic territory.
Pseudonymous analyst Dave the Wave tells his 147,000 followers on social media platform
“The numbers are going to be big, but still technically solid. A run to the top of the channel would see BTC break the psychologically important six-figure barrier. Once that is broken, a parabolic peak is on the horizon.”
With BTC trading firmly above its previous technical resistance at $70,000, Dave the Wave shares a chart that suggests Bitcoin will continue to reach new all-time highs until it reaches $130,000.
“BTC technical target and possible parabolic territory…”
Dave the Wave isn’t the only analyst who thinks Bitcoin is in for much higher prices. Fellow trader Pentoshi tells his 810,900 followers on social media platform X that Bitcoin has cemented a new uptrend after breaking the $70,000 resistance.
“We call that a trend reversal. It starts in the lower time frames, and this is the result in the higher time frames. Seven months of consolidation is coming to an end and now we have seen outbreaks across the board.”
At the time of writing, Bitcoin is trading at $88,133, up more than 10% in the last 24 hours.
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Generated image: Midjourney
