A trader known for several accurate crypto market calls says that Bitcoin (BTC) remains in a bullish market trend.
Pseudonymous analyst Dave the Wave tells his 146,500 followers on the social media platform X that as long as Bitcoin remains above an ascending diagonal level, the crypto king is still poised to print fresh all-time highs (ATHs).
“BTC still on track.”
The analyst says that Bitcoin could still fall lower than its current value and remain in an uptrend provided that it stays above a diagonal support that has kept BTC bullish since October 2023.
“Plenty of wiggle room for BTC price yet. Dashed diagonal line the weightier one here.”
The analyst also predicts a market top for Bitcoin in December 2025 by using his version of the logarithmic growth channel (LGC) curve, which aims to predict Bitcoin’s longer-term cycle lows and highs while filtering out shorter-term volatility.
“If you subscribe to the BTC four-year cycle theory, then it may not help you much with the top (again). However, if you subscribe to the LGC theory, it may once again be useful.”
Looking at his chart, the analyst suggests Bitcoin could hit the top of the LGC model and soar above $300,000 at the end of 2025.
Bitcoin is trading for $68,654 at time of writing, down slightly in the last 24 hours.
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Generated Image: Midjourney