Two popular analysts shared their predictions for the biggest cryptocurrency that has gained momentum recently. In this article, we will share the latest Bitcoin comments from Credible Crypto and Dave the Wave. Here are the details…
Credible Crypto predicts pullback for Bitcoin and Ethereum
cryptocoin.com As we have also reported, the analyst, who created a following with some Bitcoin and altcoin calls, shared his new comments. He warns traders that both BTC and Ethereum (ETH) may be ready to take a leap. Credible points out to his 338,100 Twitter followers that while Bitcoin managed to make a decent bounce from around $18,500 on Sept. He said he believes the biggest crypto could look at a downward journey from $20,000. He used the following expressions:
It looks solid. A wave 1 above $20,700 tomorrow should confirm a reversal. It could retest $20,700 in a lower time frame, but it should be fine if we continue with a solid close and $23,000 tomorrow. Then, seeing a rejection and lows for a higher low would suggest a revisit in the $20,000 range before continuing.
Looking at Credible’s chart, it predicts an immediate bounce for BTC after the anticipated corrective move to $20,000. At the time of writing, BTC is just over $22,000. As for Ethereum, Credible says that ETH will also rally in the near term. But the king predicts a steep correction after the altcoin hits its target. Looking at Credible’s chart, it predicts a drop to the $1,200 level for Ethereum. This marks a 36 percent devaluation if ETH reaches its $1,900 target. Currently, ETH is trading at $1,770.
Dave The Wave marks a ‘new phase’ in Bitcoin
Dave the Wave says that Bitcoin’s weekly MACD has dropped below the “zero line”. According to a chart shared by the analyst, the previous MACD fell below this line in 2012, 2015 and 2019, preceded by major bullish price movements. The MACD is a trend-based momentum indicator that shows the relationship between two moving averages of an asset and is used by traders to detect reversals.
According to Dave the Wave, Bitcoin’s MACD below the zero line was due to BTC being in an oversold position. Dave the Wave also noted that he is looking at the MACD on the monthly chart, which also gives a bullish signal. While the moon isn’t close to closing yet, she thinks it’s pretty good that we’re seeing it. As it is known, the analyst correctly predicted $ 6,400 Bitcoin in 2019. He also correctly predicted the $8,000 and $11,000 levels, dips, and rises in BTC over the past years.
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