A trader who correctly predicted Bitcoin’s crash in May 2021 is now saying the cryptocurrency could be set for a strong rally in the last quarter of this year.
Hot Indicator, Hot Predictions
The analyst, known as Dave the Wave, says Bitcoin’s weekly MACD indicator is “coming in hot and fast” and approaching a reset. This indicator is used by traders to spot potential trend reversals.
Dave the Wave points out that the last time the MACD reset, in late 2023, it coincided with a massive price surge that saw Bitcoin hit a new all-time high in March. He also shared a chart that suggests Bitcoin could reach $135,000 by mid-to-late 2025.
Bullish Momentum on the Horizon
Based on his chart, Dave the Wave predicts that Bitcoin will start gaining momentum in the coming months, leading to a parabolic rally in 2025.
Earlier this month, he shared another chart suggesting Bitcoin could break through resistance levels as early as October 1st. He also noted that Bitcoin appears to be consolidating within a triangle pattern.
Fireworks in the Fall?
Bitcoin is currently trading at $58,144, down slightly from yesterday.
While Dave the Wave’s predictions are exciting, it’s important to remember that crypto markets are highly volatile. Always do your own research before making any investment decisions.
