Cryptocurrency analyst Dave the Wave said that when he examined the latest developments in the Bitcoin (BTC) market, positive signals appeared that BTC could enter a new upward trend. Dave the Wave’s latest prediction attracted attention as he accurately predicted the crypto market crash in May 2021.
According to analysis by Dave the Wave, the weekly MACD indicator has risen above the important level of zero. This shows that Bitcoin’s price is now gaining upward momentum and is starting to attract the attention of investors. MACD is a technical indicator used to examine the short-term and long-term trends of an asset, and a break above the zero level is considered a sign of a possible uptrend.
The analyst said the following on the subject:
“The weekly BTC MACD is transitioning back up from a promising low position at the zero line.
“Less volatile price action compared to last time.”
Additionally, Dave the Wave claims that a break above the 200-month moving average (MWA) level is imminent for Bitcoin. The 200-month moving average is an indicator used to measure Bitcoin’s long-term trend. If BTC can surpass this important level, this could be a strong buy signal for long-term investors. This means Bitcoin may have the potential to gain more value in the future.
Koinfinans.com As we reported, another factor that Dave the Wave takes into account in its analysis is the logarithmic growth curve (LGC) model. The LGC model is a model that shows the historical growth trend of Bitcoin, and the analyst predicts that this model will break above the “buy zone”. LGC is used to identify the highs and lows of Bitcoin’s long-term market cycles while filtering out short-term volatility.
“Forecast: 200 MWA, BTC LGC will remain in the buying zone.”
Apart from Bitcoin, the analyst also evaluated the price movement of the popular cryptocurrency Chainlink (LINK). Dave the Wave notes that LINK is trending upward after breaking multiple crossover resistances and breaking out of the accumulation zone.
“Remember, the name of the game is the opportunity that comes with volatility. “You can become as obsessed with an abstract fact as you want, or you can think about how to make real profits in the real world.”
The crypto analyst also predicted that LINK is likely to revisit its all-time high of $52.70. says.
You can follow the current price movement here.