May 2021 Bitcoin (BTC) A popular analyst, who correctly predicted its collapse, evaluated the current state of BTC. According to the analyst, the leading crypto is giving bullish signals.
The analyst, known by the alias Dave the Wave, told his 34,500 Twitter followers that multiple technical indicators gave a bullish signal for BTC. told.
“The probability of a major BTC move happening [her iki taraf için de riski göz ardı etmeyin]:
Weekly MACD in the same domainNEWS CONTINUES BELOW
Price is in the lower band/buy zone.”NEWS CONTINUES BELOW
Bitcoin had soared from $4,000 to $14,000 in a few months in the second quarter of 2019. Looking at Dave the Wave’s chart, BTC seems to follow this technical setup in 2019. According to the analyst, the MACD (Moving Average Convergence Deviation) indicator is currently hovering in the region before the 2019 Bitcoin surge. MACD metrics are trend-setting indicators.
The histogram, which measures the convergence or divergence of the moving averages, is also moving up, similar to Bitcoin’s 2019 Q2 setup.
Besides, the crypto strategist claims that based on the logarithmic growth curve (LGC) model, Bitcoin could explode by 676% by 2024.
“A technical target of $180,000 for BTC late next year…”
LGC is a model that the analyst uses to predict Bitcoin’s bullish and bearish cycles amid changing macroeconomic conditions. According to Dave the Wave, the LGC model is designed for long-term Bitcoin investors.
“BTC charts are for investors – to buy in several tranches over a reasonable period of time…. when the price is in the “buy zone”… it could be a good investment for the future.”
At press time, Bitcoin is trading at $23,171 with a small increase on the day.
You can follow the current price action here.