A crypto analyst known for his accurate Bitcoin predictions maps the path ahead of the leading cryptocurrency. Current analysis by Dave the Wave cryptocoin.com compiled for our readers.
Bitcoin may reach 6-digit prices, but before $25,000
A crypto analyst who correctly predicted the May 2021 Bitcoin crash reveals how BTC could hit its six-digit milestone this year. You can check out Dave the Wave’s accurate BTC price predictions here. In his recent analysis, Dave claims that Bitcoin is on track to hit $100,000 this year…
Dave the Wave’s chart expects a significant spike to around $120,000 by the end of the year, predicting a deep collapse to around $25,000 before any bullish action starts. When asked whether geopolitical reasons such as the war near Europe, restricted supply chains and rising oil prices will put pressure on Bitcoin, the crypto expert claims that these events could indeed be positive for BTC and allow it to emerge from its shadow as a speculative asset. Here are the statements of Dave the Wave on this subject:
You may be right, but BTC is in such a case [sadece bir varlıktan ziyade] may see a new rebirth as an alternative currency.
Interpretation of the MACD indicator
While the crypto analyst believes that Bitcoin will be bullish in the coming months, he believes that BTC is now negative in terms of a high time frame. According to Dave the Wave, BTC’s moving average convergence divergence (MACD) on the monthly timescale is still flashing red. The MACD is a trend-following indicator that assesses whether the bullish or bearish momentum is stronger. The analyst looks at the technical chart below and comments:
Another monthly candle was formed in the form of a contraction/strengthening bar/histogram with no pause in the MACD. It is more likely for the MACD to re-adjust to or close to the zero line than if the price is falling at the same angle.
Bitcoin (BTC) is trading at $38,893.54 at the time of writing. It exhibited fixed price movements by 0.73% compared to the last 24 hours, compared to the last week.
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