An analyst with a history of making timely Bitcoin calls believes that BTC grinds a huge new of all time as the market evolves.
Pseudonymous analyst Dave the Wave tells His 153,800 followers on the social media platform X that Bitcoin is on schedule to follow his version of the Logarithmic Growth Channel (LGC) curve and to print a record high of $ 220,000.
The LGC curve is intended to predict the long-term cycle of Bitcoin, while the high-quality Lows and highlights filter out the volatility of a shorter term.
He also says that Bitcoin may leave the parabolic movements that were indicative of earlier cycles.
“Many now describe the different nature of this BTC cycle. For years I have predicted the ‘ripening of the market’ with the price action of cycles that go from a parabolic to a more technical nature …
An adult market not only explains the quality of this cycle, but also explains the LGC [logarithmic growth curve] yourself.”
Next, the analyst out That Bitcoin seems to be locked in a narrow range for the time being, because it trades between $ 100,000 and $ 110,000.
“BTC bring it up.”
Finally, the analyst out That Bitcoin shows market strength by continuing to act above $ 100,000 on the weekly graph.
“BTC is holding up.”
Bitcoin acts for $ 107,083 at the time of writing, an increase of 1.9% in the last 24 hours.
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Generated image: midjourney