Bitcoin in May 2021 $58,845 Anonymous cryptocurrency analyst Dave the Wave, who correctly predicted the decline of Bitcoin (BTC), predicted that Bitcoin (BTC) could rise in the fourth quarter.
MACD Indicator and Emerging Bullish Signal
Dave the Wave told his followers on social media platform X that BTC’s weekly Moving Average Convergence Divergence (MACD) indicator is “rapidly and strongly” approaching a reset. “BTC’s weekly MACD indicator is rapidly and strongly approaching a reset,” the analyst said.
The MACD indicator is a momentum indicator that shows the relationship between two different moving averages and is used to watch for possible trend reversals. Dave the Wave noted a period when the MACD was reset before. Accordingly, this period was before Bitcoin made a big price rally in late 2020, and the price reached a new record high in March 2021 following this period.
Long-Term Predictions for Bitcoin
The crypto analyst also shared a chart predicting that Bitcoin could reach the $135,000 price range by mid-to-late 2025. This prediction means that Bitcoin could continue its long-term uptrend and surpass previous record highs.
Looking at the analyst’s chart, it seems that Bitcoin may gain upward momentum in the coming months and make parabolic increases in 2025.
Resistance Levels May Be Exceeded in October
Dave the Wave shared a chart earlier this month suggesting that Bitcoin could begin to break above resistance levels as early as October 1, saying, “Fireworks could be set off for BTC in Q4.”
The chart shared by the analyst at the time showed that the largest cryptocurrency was trading in a triangle formation while consolidating in a wide range.
Dave the Wave’s predictions may be important for investors to evaluate future price movements. However, due to the volatile nature of the cryptocurrency market and global economic conditions, investors should be careful and consider the risks. Factors such as regulation, institutional adoption, and technological advancements may affect Bitcoin’s future performance.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
