Lark Davis Predicts Bitcoin’s Path to $100k, Identifies Strong Meme Coins With Double-Digit Gains

Lark Davis Predicts Bitcoin's Path to $100k, Identifies Strong Meme Coins

Bitcoin's recent surge past the critical $60k mark has sparked excitement across altcoins. However, whether this signals a confirmed bullish breakout remains uncertain.

Analyst Lark Davis highlights the recent bullish developments in Bitcoin's price action, including its breakout from a downtrend, surpassing the 200-day EMA and $60k levels. He suggests a potential technical retest around $63,000 or $62,000 as support.

Despite the bullish outlook, Davis emphasizes the potential for corrections. The key level to watch is $72,000. He expresses optimism about the bullish momentum due to factors such as potential rate cuts and rising liquidity. However, he cautions that Bitcoin remains sideways until breaking $72,000.

Davis suggests that the recent price action could represent a spring in a Wyckoff reaccumulation pattern, potentially leading to a target range of $90k to $100k in the next market cycle.

Among altcoins, meme coins have shown strong performance. MCoin surged 20%, Floki 12%, Dogwifhat 15%, and Pepe 16% in 24 hours.

Davis also highlights Solana's dominance in decentralized exchanges (DEXs), capturing 30% of total trading volume. He believes that only a few blockchains will capture most user activity, questioning the proliferation of competing platforms with limited adoption.