Markets
Trader Who Called Crypto Collapse for May 2021 Reveals Potential High Target for Bitcoin Bull Market
A veteran trader with a history of several accurate crypto macro calls is revealing what he thinks could be the maximum upside price target for Bitcoin (Bitcoin) this market cycle.
Pseudonymous trader Dave the Wave shares with his 146,000 followers on the social media platform Bitcoin while filtering out short-term volatility.
According to the trader, his LGC model suggests that Bitcoin’s current market cycle could peak at 3 times current prices, or roughly the $205,000 level.
“The price of BTC has always been relatively close to the previous highs at the time of the halvings.
Of interest this time is the 4x from the bottom compared to the previous 3x. This suggests a certain anticipation of the price with respect to the halving.
The LGC model suggests a maximum of 3x from here. And this is also why you might want to consider trading the extra volatility of alt/USD for profits while staying in BTC for the long term.”
Source: Dave the wave/X
In the short term, Dave the Wave says that Bitcoin is currently approaching an ascending diagonal level that has acted as strong support for BTC in the past.
“BTC price is once again approaching what has acted as strong support…”
At the time of writing, BTC is trading at $67,702.
Don’t miss a beat – subscribe to receive email alerts directly to your inbox
Check Price action
Follow us on X, Facebook AND Telegram
surf Hodl’s daily mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and transactions are at your own risk and that any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: DALLE3