Analyst Dave The Wave: Bitcoin Still On Track To Break $100K In 2022
A pseudonymous crypto analyst, known as Dave the Wave, looks into Bitcoin (BTC) and what lies for the leading digital asset, saying that it could break six figures within 2022.
Dave the Wave shared with his 94K followers on Twitter that BTC has potential to rise to $100,000 valuation this year.
“One for the bulls. Aligning the micro with the macro. $100,000 within striking distance this year…”
Looking at the analyst’s chart prediction, a rally to $120,000 would happen towards the end of 2022, but he also projects a steep correction to around $25,000 level around June, before a massive leg up.
Replying to a comment about geopolitical factors; war in Europe, crunched supply chains, and rising oil prices and how that would impact on Bitcoin, Dave the Wave notes that these conditions could also be seen bullish for BTC, saying it could step up to be an ‘alternative currency.’
“You might be right, but BTC in that scenario may also find renewed resurgence as an *alternative currency* [as opposed to just an asset].”
You might be right, but BTC in that sceanrio may also find renewed resurgence as an *alternative currency* [as opposed to just an asset].
According to the analyst at the moment, Bitcoin looks bearish in the high timeframes. Its moving average convergence divergence (MACD) is still flashing red on the monthly timeframe.
MACD is a trading indicator used in technical analysis, which was designed to reveal changes in the strength, direction, momentum, and duration of a trend in a stock’s price.
“Yet another monthly candle printed, and still with no relief on the MACD… in the form of a contracting/ strengthening bar/ histogram.
More certain is the MACD to re-set to, or near, the zero-line than that price will descend at the same angle.”
Yet another monthly candle printed, and still with no relief on the MACD… in the form of a contracting/ strengthening bar/ histogram.
More certain is the MACD to re-set to, or near, the zero-line than that price will descend at the same angle. pic.twitter.com/eeUz2MJBYy
