A closely followed crypto analyst known for calling the May 2021 collapse in Bitcoin (BTC) says that an indicator with a solid track record is suggesting rallies are approaching.
Псеудонимни аналитичар познат као Даве тхе Ваве каже his 122,000 Twitter followers that Bitcoin’s moving average convergence divergence (MACD) just flashed a signal that previously foreshadowed a 300% rally in BTC in 2019.
“Last time the Bitcoin weekly MACD crossed, after an extended correction to current levels, it went on a ripper.”
The MACD is a trend-based momentum indicator that depicts the relationship between two moving averages of an asset and is used by traders to pinpoint reversals.
While many traders are worried about uncertainties currently lurking in the macro environment outside crypto, Dave the Wave says BTC might not be as influenced by it as the market thinks.
He shows points to a series of higher lows and higher highs on BTC’s price action.
“BTC doing its thing… despite the ‘macro’.”
In April of this year, Dave the Wave accurately predicted Bitcoin’s 50% drop from above $40,000 to near the $20,000 range.
The analyst said in April,
“Medium term –
No doubt an unpopular chart, but it would be remiss of me as a chartist not to post what could be a real possibility…. keeping in mind that TA is risk management to both sides.”
Recently, Dave the Wave posted an update of his analysis from before the crash.
“Bitcoin chart updated from 3 months back.
Seeing a lot of charts with the bottom put in… but not many updated ones.”
У време писања, Битцоин се тргује за 23,226 долара.
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Сурф Даили Ходл Мик
Изјава о одрицању одговорности: Мишљења изнета у Даили Ходлу нису савети за улагање. Улагачи би требали обавити своју дужну опрему прије него што уложе у високе ризичне инвестиције у битцоин, крипто валуту или дигиталну имовину. Имајте на уму да су ваши трансфери и трговине на сопствени ризик, а за све губитке који могу настати одговоран сте. Даили Ходл не препоручује куповину или продају било које крипто валуте или дигиталне имовине, нити Даили Даили Ходл није саветник за инвестирање. Имајте на уму да Даили Ходл учествује у аффилиате маркетингу.
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Source: https://dailyhodl.com/2022/08/01/historically-accurate-indicator-suggests-bitcoin-btc-about-to-rip-says-analyst-who-called-may-2021-collapse/