Multi-Year Technical Pattern Suggests End-of-Year Bitcoin Explosion, According to Trader Who Called 2021 Cycle Top

A widely followed crypto analyst says that one technical pattern indicates that the flagship cryptocurrency Bitcoin ( BTC ) could take off before year’s end.

Pseudonymous analyst Dave the Wave, who called BTC’s cycle top four years ago, tells his 152,900 followers on the social media platform X that BTC’s four-year cycles may be more theory than fact.

“Though admittedly, in these later days, an element of superstition is written into the theory of BTC 4-year cycles, it certainly is interesting that the culmination of such a cycle also would coincide with the multi-year upward technical channel…”

Source: Dave the Wave/X

According to the analyst, the logistic growth curve (LGC) model of looking at BTC might be better suited for the top crypto asset by market cap.

“In a maturing market, at some point the traditional 4-year cycle has to break [which was tied to the halving narrative]…. but not the LGC channel.

At least with the LGC model you have a logic to how the alternative currency of BTC is being capitalized.

Same curves since 2018… giving this model some legs to stand on.”

Source: Dave the Wave/X

Finally, the analyst concludes that BTC could explode in price without necessarily going parabolic.

“4th quarter BTC fireworks anyone?

Big target technically feasible… parabolic spike not required.”

Source: Dave the Wave/X

BTC is worth $113,895 at time of writing, up nearly 3% in the last 24 hours.

Generated Image: Midjourney