dailyhodl.com
A popular trader known for several accurate crypto market calls is outlining his 2025 outlook for Bitcoin ($BTC).
Pseudonymous analyst Dave the Wave tells his 146,900 followers on the social media platform X that Bitcoin could soar nearly 214% from its current value by the end of next year.
The analyst shares a chart using his own version of logarithmic growth channels (LGC) which aim to forecast market cycle tops and bottoms while filtering out short-term volatility and noise.
“$BTC technical target of $200,000 end of 2025.”
He also says that Bitcoin appears to be forming a cup-and-handle pattern on the weekly chart. A cup-and-handle formation is typically viewed as a bullish continuation pattern, suggesting that an asset is taking a breather after a steep rally before taking out a key resistance level.
“$BTC cup and handle anyone?”
Lastly, he suggests that Bitcoin may finish the year off in an uptrend as the flagship crypto may be printing a bullish pattern on the daily chart of higher low prices and higher high prices.
“Setting up for a $BTC 4th quarter fireworks? Does this mark the beginning of the turnaround with local higher lows and higher highs?”
Bitcoin is trading for $63,700 at time of writing, up 7% in the last seven days.