The crypto strategist who nailed Bitcoin’s May 2021 collapse says that BTC is flashing signs that suggest the king crypto is making a massive move to the upside.
The pseudonymous analyst Dave The Wave told his 134,500 Twitter followers that several technical indicators are turning bullish for BTC.
“Real Chances of Big BTC Move [manage risk to both sides],
- weekly macd [moving average convergence/divergence] in the same area
- Histogram as Extended
- Price in the lower band/bought zone.”
Looking at Dave the Wave’s charts, bitcoin appears to be following its Q2 2019 technical setup, when BTC jumped from around $4,000 to $14,000 in a matter of months. According to the analyst, the MACD, which is a trend reversal indicator, is currently hovering in the same area as it was before the 2019 BTC rally. The histogram, which measures the convergence or divergence of moving averages, is also up and up, similar to Bitcoin’s Q2 2019 setup.
A crypto strategist says that Bitcoin could explode by 676% by 2024 based on his Logarithmic Growth Curve (LGC) model.
“A Technical Target for BTC of $180,000 at the End of Next Year…”
The LGC is an analyst’s attempt to predict the boom-and-bust cycles of bitcoin amid changing macroeconomic conditions.
According to Dave the Wave, the LGC model is designed for long term bitcoin investor.
“The BTC chart is for investors – buying in a few tranches over a reasonable period of time….with the price in the ‘buy zone’…could prove to be a good investment going forward.”
At the time of writing, bitcoin is changing hands for $23,171, a fractional increase on the day.
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