Prominent crypto analyst Dave the Golf has provided a bullish story for Bitcoin despite the crisis flagship crypto’s recent setback. As part of his analysis, he suggested how high Bitcoin could rise in the short and long term.
Bitcoin rises to $300,000
Dave the Golf represented in an X (formerly Twitter) after that Bitcoin could rise to $300,000 based on its logarithmic growth channel indicator (LGC). Based on the chart he shared, BTC’s rally to this unprecedented price level is expected to occur sometime in 2025.
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Meanwhile, Dave the Wave expects Bitcoin to do the same in the short term exceed $100,000 later this year. He highlighted an ascending diagonal line, which Bitcoin continued to hold as support even afterward recent drop below $67,000. As such, the analyst believes that the flagship crypto will remain in a multi-month uptrend to the extent it remains above the line.
Crypto analyst Rekt Capital also suggested that there was no need to worry about Bitcoin’s withdrawal, to report that this current decline would not last forever. In fact, he noticed that everything went according to plan, as Bitcoin’s withdrawal is long overdue based on ‘historical trends’.
The analyst expects Bitcoin to continue consolidating in this reaccumulation range for a while. Rekt Capital predicts that the breakthrough to the ‘Parabolic Uptrend’ phase will likely occur in September this year if history repeats itself. This matches Dave the Wave’s prediction that Bitcoin will rise above $100,000 later this year.
Rekt Capital also warned Bitcoin investors about being shaken out of their positions. He declared that Bitcoin will soon transition into “increasingly fearful territory” as its price falls to $60,000. He added that this “fear tends to precede the point of maximum financial opportunity.” In another X messagehe noted that Bitcoin will go back deep enough to convince everyone that the running of the bulls is over, and then the flagship crypto will resume its uptrend.
BTC still on track
Crypto analyst Mikybull Crypto also shared a sentiment similar to that of Rekt Capital. He declared that BTC is still within range and advised investors not to be shaken. The analyst had done that before called for patience as BTC consolidates within this range. He highlighted a wedge that he claimed would send Bitcoin’s price soaring initial goal of $85,000 when an outbreak occurs.
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Crypto analyst Jelle Also suggested that this is the time for Bitcoin investors to do nothing and just sit on their hands. The analyst shared his again profit taking strategywhich showed that Bitcoin investors should only make a profit if the flagship crypto rises to $80,000.
Featured image created with Dall.E, chart from Tradingview.com