#Binance #Crypto #PassiveIncome #BTC Crypto Trader Says 2021-Style Bitcoin Bull Market Peak Unlikely, Unveils Upside Target for BTC in Two Months

A trader with a history of making accurate predictions in the crypto space believes Bitcoin’s (BTC) multi-year uptrend is built on solid ground.

About four years ago, Bitcoin abruptly ended its bull market after failing to take out its resistance at $69,000 twice.

Dave the Wave notes in his chart that a parabolic move preceded BTC’s 2021 market peak. The steep ascent left Bitcoin exposed as panic selling and massive liquidation events drove BTC from a high of $69,000 to around $16,000.

On the contrary, the trader says that Bitcoin’s rise since 2023 has been sustainable as BTC printed higher highs and higher lows over time.

He notes that a 2021-style collapse is “unlikely” at this point.

In his bullish Bitcoin outlook, Dave the Wave thinks that it is within the realm of possibility for BTC to soar to his massive upside target in just a couple of months.

For now, Bitcoin needs to breach its last resistance zone to potentially trigger a parabolic rally toward his target