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.