Dave Wave: Bitcoin will make a breakthrough to $ 170,000

The cryptocurrency market analyst known as Dave the Wave predicts a possible rapid rise of bitcoin BTC $105,605.14 Bitcoin -0.32% Market capitalization $2.09 trillion VOL. 24 hours $8.87 billion to new historical highs. The expert, who has previously accurately predicted both the top and bottom of the market cycle in 2021 and 2022, indicates that Bitcoin is ready to break through the $ 105,000 mark.

According to his analysis, a breakout of this resistance level could lead to a further price increase to $ 130,000 as early as May 2025. If the support level at $ 92,000 is maintained, it could become the basis for further growth. At the time of writing, bitcoin is trading at $ 108,386, which is above the proposed resistance line.

The analyst also uses the Fibonacci retracement method to predict a possible peak in the market cycle, pointing to a potential high of $ 170,000. This tool allows you to identify important levels for entering and exiting the market based on Fibonacci proportions.

Despite the lower performance of Ethereum compared to other crypto assets, Dave the Wave predicts a short-term growth of ETH to $ 7,600. At the time of publication, Ethereum is estimated at $ 3,415.

Market analysts note that the current period may be a turning point for bitcoin, and further growth will cause increased interest among investors and new investments in cryptocurrencies.