A senior crypto analyst, Bitcoin $107,955.4He is of the view that (BTC) could be poised for a parabolic rise beyond all-time highs. Pseudonim trader Dave the Wave noted to his 147,000 followers that Bitcoin could be entering a strong bullish momentum.
Resistance Level and Potential Targets
Dave the Wave shared a chart showing that BTC could experience a new parabolic rally after breaking the resistance at $105,000. If this level is exceeded, Bitcoin could reach around $130,000 by May.
Support Levels and Current Status
According to Trader’s chart, there is a support level just below BTC around $92,000. At the time of writing, Bitcoin is trading above the resistance level noted by the trader at $108,386.
Fibonacci Extensions and Long Term Goals
Using Fibonacci extension levels, Dave the Wave stated that a potential cycle top for Bitcoin could be $170,000. Fibonacci tools help investors identify potential entry and exit levels for the asset.
“BTC parabolic breakout here and now… or a continued range?” –Dave the Wave
Bitcoin’s current rise is setting the stage for a potential parabolic boom.
Status of Ethereum
Ethereum 
$3,363.8 Regarding the price, Dave the Wave stated that he is focusing on the $7,600 level in the short term. There is a negative tone as Ethereum lags behind the performance of other major crypto assets.
“Seeing some ETH despair on my feed. Freebie from my alts page to cheer you up a little.” –Dave the Wave
However, if Ethereum’s support levels are maintained, there is a possibility of recovery.
As of the last moments, Ethereum is trading at $3,415. Technical indicators for both Bitcoin and Ethereum offer potential opportunities for short- and long-term investors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
