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A widely followed crypto analyst says that recent price action is aligning with long-tracked technical models, pointing to strength in gold and structural support for Bitcoin (BTC).
Crypto market analyst Dave the Wave tells his 152,000 followers on X that a Fibonacci-based price target for gold priced in U.S. dollars has been reached and that the metal remains capable of advancing toward $8000.
“Gold/USD. Fib target from way back hit… capable of running to 8K…”
Fibonacci levels are derived from mathematical ratios and are used by traders to identify potential price targets based on past market moves.
Dave the Wave also highlights the gold-to-silver ratio, a measure of how many ounces of silver are needed to buy one ounce of gold. He said a ratio trend that began in 2020 remains on track and is now roughly three-quarters complete, suggesting continued alignment with a longer-term metals trend.
“Gold/ silver ratio chart from 2020 on target. Near 3/4s of the way there…”
On Bitcoin, he says peak prices from about five years ago now fall within a long-term accumulation zone defined by a logarithmic growth curve.
This model plots bitcoin’s price on a logarithmic scale to reflect slowing growth as the asset matures and is used to identify broad support areas rather than precise price targets.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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