Top Analyst Projects A Macro Shift For Bitcoin Based On MACD Indicator
According to a famous crypto expert, who predicted the May 2021 Bitcoin (BTC) crash, a historically reliable signal is turning positive.
Pseudonymous analyst Dave the Wave shared with his 129,100 Twitter followers that the moving average convergence divergence indicator (MACD) implies Bitcoin is emerging from the months-long bear market.
”And there you have it ladies and gentlemen, a momentum [and momentous] shift on the monthly MACD. No guarantee of certainty, but certainly a strong indication of the Bitcoin macro turnaround… given the previous historical trend.”
And there you have it ladies and gentlemen, a momentum [and momentous] shift on the monthly MACD.
No guarantee of certainty, but certainly a strong indication of the #Bitcoin macro turnaround… given the previous historical trend. pic.twitter.com/HiuPDT9xiU
Traders use the MACD to identify reversals because it shows the connection between two asset moving averages. Bitcoin is trading at $20,125 hours after reaching $20,800 on the day the US Federal Reserve announced another significant interest rate rise.
Dave the Wave’s logarithmic growth curve (LGC) suggests Bitcoin’s price base is about $20,600. Since 2018, the LGC has predicted well.
“Momentum on the shorter-term weekly chart also supportive of the monthly chart. Factor in the LGC model, the curves of which have been on target since 2018, and you’ve got a reasonable argument for a base forming/ formed.”
#Bitcoin momentum on the shorter-term weekly chart also supportive of the monthly chart. Factor in the LGC model, the curves of which have been on target since 2018, and you've got a *reasonable* argument for a base forming/ formed. pic.twitter.com/gC7k4BCDVd
