A well-known crypto analyst, known as Dave the Wave, is seeing green for Bitcoin. He’s been right before, predicting the Bitcoin crash in May 2021, and now he’s saying one indicator is pointing to a bullish market for BTC.
MACD Says “Buy!”
Dave the Wave is pointing to the weekly MACD (Moving Average Convergence Divergence) indicator. He says it’s “re-crossed and re-booted near the zero-line,” which is a signal that the market is turning bullish.
He also says the monthly MACD has consistently shown bullish signals for Bitcoin over long periods of time.
Bitcoin’s Resistance May Become Support
Dave the Wave also thinks that Bitcoin’s previous resistance level around $67,000 could be shifting to become a support level. This means that Bitcoin might find a floor at that price point, making it more likely to rise.
However, Bitcoin is currently trading below $67,000, at around $66,619. It’s down nearly 2% in the past 24 hours.
Dogecoin Also Looking Good?
Dave the Wave isn’t just bullish on Bitcoin. He’s also optimistic about Dogecoin (DOGE). He says DOGE is forming a bullish ascending triangle pattern on the daily chart. This pattern, if broken through, could send DOGE to the $0.20 range.
He also thinks DOGE could rally close to its all-time high of $0.73 during this cycle. Currently, DOGE is trading at $0.139.
Disclaimer:
This information is not financial advice. Always do your own research before investing in cryptocurrencies. /p>
