The trader who correctly predicted the crypto market crash in 2021 Bitcoin (BTC) may be preparing for a relatively minor parabolic move says.
The analyst, nicknamed Dave the Wave, tells his 143,200 followers on social media platform
Break the upward channel and BTC goes parabolic, otherwise it’s business as usual.
The trader’s upper and lower bounds of the channel are based on his own version of logarithmic growth curves (LGC), which attempt to predict Bitcoin’s macro highs and lows while filtering out medium-term volatility and noise.
He also says that BTC’s logarithmic monthly moving average convergence divergence (LMACD), a long-term momentum indicator, is bullish, as it was before the parabolic breakout in 2019.
Is another BTC mini-parabolic run taking shape?
Looking at its chart, the trader seems to suggest that a mini-parabolic move could push BTC beyond the $60,000 level.
He also says that Bitcoin could move beyond $50,000 by completing a bullish inverse head and shoulders formation.
Also compatible with ‘loop’.
The trader had previously said that Bitcoin’s market structure is preparing the king crypto to rise above $200,000 by December 2025.
Koinfinans.com As we reported, Bitcoin is trading at $43,932 at the time of writing this news. Additionally, it has increased slightly in the last 24 hours.