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A prominent cryptocurrency analyst indicates that Bitcoin (BTC) 
$103,770 may be preparing for a parabolic surge beyond its all-time highs. Pseudonymous trader Dave the Wave shared insights with his 147,000 followers, suggesting that Bitcoin could enter a period of strong upward momentum.
Resistance Levels and Potential Targets
According to Dave the Wave, Bitcoin could experience a new parabolic rally after surpassing the resistance at $105,000. If this level is breached, Bitcoin could potentially reach approximately $130,000 by May.
Support Levels and Current Status
The trader’s analysis indicates that there is a support level just below BTC around $92,000. At the time of writing, Bitcoin is trading above the identified resistance level at $108,386.
Fibonacci Extensions and Long-Term Targets
Using Fibonacci extension levels, Dave the Wave suggested that a potential cycle peak for Bitcoin could be around $170,000. Fibonacci tools assist traders in determining potential entry and exit levels for assets.
“BTC parabolic breakout here and now… or a continued range?” – Dave the Wave
The current rise in Bitcoin appears to set the stage for a potential parabolic breakout.
Ethereum’s Situation
Regarding Ethereum 
$2,670, Dave the Wave mentioned focusing on a short-term goal of $7,600. A negative sentiment prevails as Ethereum lags behind other major cryptocurrencies.
“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 remains a possibility of recovery. As of the latest update, Ethereum is trading at $3,415. Technical indicators for both Bitcoin and Ethereum provide potential opportunities for short- and long-term traders.
