A crypto strategist who accurately called the May 2021 Bitcoin (BTC) crash believes the flagship digital asset is poised for a major burst to the upside.
The pseudonymous analyst Dave the Wave tells According to its 140,900 followers on social media platform
After the deep corrective move, the analyst predicts that Bitcoin could rise to a price of up to $180,000 – a gain of about 424% from current levels. Dave the Wave seems to suggest that Bitcoin’s six-figure price target will be reached by April 2025.
“A possible BTC scenario…”
In another chart, the pseudonymous analyst predicts that Bitcoin will do the same experience a mini-parabolic wave ahead of the halving, just like the flagship crypto asset did before the 2020 halving. The halving, which will see BTC miner rewards halved, is scheduled for April 2024.
Based on his chart, Dave the Wave suggests that a mini-parabolic rally could see Bitcoin slightly above its all-time high of around $69,000.
Dave de Golf too say that the moving average convergence/divergence (MACD) indicator shows that Bitcoin is shifting into a long-term bullish mode. The MACD indicator is a momentum oscillator used to identify the strength and direction of a trend.
“BTC monthly MACD now crosses the zero line into official bull territory…”
BTC is worth $34,342 at the time of writing.
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Generated image: DALLE3