Analyst Who Called May 2021 Bitcoin Collapse Says BTC in Opportunity Zone Despite Market Uncertainty cryptomarketbag Blockchain update


Bitcoin (BTC) A popular crypto analyst known for its May 2021 collapse says that BTC is still in a “buy zone” despite the market rally.

pseudonymous trader known as Dave the Wave says He has 126,600 Twitter followers that bitcoin is in an extended sideways buy zone.

“Extended sideways range is forming within the buy zone. Would like to see held.”

Source: davthewave/twitter

Analyst too notes Bitcoin’s Monthly Moving Average Convergence Divergence (MACD) looks bullish. MACD is a trend-based momentum indicator that shows the relationship between two moving averages of an asset and is used by traders to indicate reversals.

“Monthly MACD did wonders to predict the top” [loss of momentum/ blue arrow], The histogram is now over-stretched as before… and on a similar time frame. fast [for optimal buying as opposed to buying the top],

Analyst Who Called May 2021 Bitcoin Collapse Says BTC in CryptomarketBag
Source: davthewave/twitter

dave the wave It’s logic His Logarithmic Growth Curve (LGC) model is “the last bitcoin model standing.” The analyst says that the model has predicted the price range of BTC from 2018.

1663838224 403 Analyst Who Called May 2021 Bitcoin Collapse Says BTC in CryptomarketBag
Source: davthewave/twitter

At the time of writing, bitcoin is trading at $18,924. The top ranked crypto asset by market capitalization has fallen 0.3% in the past 24 hours and over 5% in the past seven days. That’s down more than 72% from its all-time high of more than $69,000, which it hit last November.

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Featured image: Shutterstock/Roman3dArt/Andy Chips



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