A veteran crypto trader who has a track record of calling Bitcoin’s market tops and bottoms still thinks BTC is primed to hit $180,000 this cycle.
The pseudonymous analyst known as Dave the Wave tells his 148,500 followers on the social media platform X that Bitcoin’s price is “chugging along on the weekly Gaussian.”
Gaussian channels are trend indicators that can be used to identify price tops and bottoms.
Looking at the trader’s chart, he seems to predict that BTC will hit his price target in December 2025 when the median line of the Gaussian channel peaks.
The analyst also explains that Bitcoin’s recent wild price swings are not out of the ordinary and that BTC can move higher despite the volatility.
“Seems to be a new level of alarm in the market… post the latest pump and dump…. but the BTC chart can absorb this kind of nonsense.”
Bitcoin is trading at $91,650 at time of writing, up nearly 5% in the past day.
Last week, Dave the Wave suggested that BTC may be following in the footsteps of its August 2024 correction when it dipped to the 0.382 Fibonacci level before launching fresh rallies.
“A BTC observation.
Now a 38% real correction of the move up as per last time.”
Traders use the Fibonacci retracement tool to spot potential entry and exit points based on the Fibonacci ratio.
Dave the Wave has also stated that a deep drawdown will set the stage for a Bitcoin rally to around $180,000 by the end of the year.
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Generated Image: Midjourney
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