A crypto analyst who forecasted the 2021 market collapse reveals that a critical technical indicator is now signaling bullish momentum for Bitcoin (BTC).
Pseudonymous trader "Dave the Wave," known for his accurate predictions, shares insights with his 153,800 followers on X (formerly Twitter). The Moving Average Convergence Divergence (MACD) suggests Bitcoin's uptrend may strengthen further.
Understanding the MACD Signal
The MACD tracks:
- Trend direction and momentum
- Potential buy/sell opportunities
- Long-term price movements
"The long-term monthly BTC MACD is turning upward again."
— Dave the Wave
His monthly chart analysis shows the MACD histogram weakening after a strong rally but now beginning a new upward trajectory.
Bitcoin Price Projections
Dave the Wave presents two key scenarios:
Bullish Surge: BTC could reach $160,000 within months (+47% from current levels)
- Upper boundary: $160,000
- Lower support: $75,000
Healthy Correction: If bullish trends hold, a market pullback might:
- Retest $100,000 as support
- Avoid deeper declines below $90,000
"If this formation holds, we'd see a partial right shoulder at $100k rather than a full drop to $90k."
Current Market Status
- BTC Price: $108,832 (-1.4% 24h change)
FAQs
Q: How reliable is the MACD for crypto trading?
A: While useful for identifying momentum shifts, traders should combine MACD with volume analysis and other indicators for higher accuracy.
Q: What catalysts could drive Bitcoin to $160,000?
A: Potential factors include institutional adoption, ETF inflows, halving effects, and macroeconomic conditions favoring hard assets.
Q: Why $100,000 as critical support?
A: Psychological price thresholds often act as consolidation zones during bull markets.
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Analysis excludes financial advice. Always conduct independent research.