The crypto strategist who nailed Bitcoin’s May 2021 collapse says BTC is flashing alerts that recommend the king crypto is establishing for an enormous transfer to the upside.
Pseudonymous analyst Dave the Wave tells his 134,500 Twitter followers that a number of technical indicators are turning bullish for BTC.
“The actual risk of a giant BTC transfer [manage risk to both sides]:
- Weekly MACD [moving average convergence/divergence] in similar space
- Histogram as prolonged
- Price within the decrease band/ purchase zone.”
Source: Dave the Wave/Twitter
Looking at Dave the Wave’s chart, Bitcoin seems to be following its Q2 2019 technical setup, when BTC rallied from round $4,000 to $14,000 in a number of months. According to the analyst, the MACD, which is a development reversal indicator, is at the moment hovering on the similar zone because it did previous to the 2019 BTC surge. The histogram, which measures the convergence or divergence of the shifting averages, can also be on the up and up, just like Bitcoin’s Q2 2019 setup.
The crypto strategist says that Bitcoin can explode 676% by 2024 based mostly on his logarithmic progress curve (LGC) mannequin.
“A technical target for BTC of $180,000 late next year…”
The LGC is the analyst’s try and predict Bitcoin’s boom-and-bust cycles amid altering macroeconomic circumstances.
According to Dave the Wave, the LGC mannequin is designed for long-term Bitcoin traders.
“BTC charts are for investors – buying in a few tranches over a reasonable period of time…. with price in the ‘buy zone’… may prove to be a good investment going forward.”
At time of writing, Bitcoin is altering fingers for $23,171, a fractional enhance on the day.
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