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The expert who predicted the crash of 2021: The MACD indicator is signaling a bullish trend for Bitcoin.
A analyst who accurately predicted the crypto market crash in 2021 says an important technical indicator is now signaling bullish for Bitcoin (BTC).
The anonymous trader known as Dave the Wave shared with 153,800 followers on platform X that the monthly MACD (Moving Average Convergence Divergence) indicator is showing that the bullish trend of Bitcoin may continue.
On Dave’s monthly chart, the MACD histogram began to weaken after a strong bullish phase, but has currently started to turn bullish again.
Dave the Wave also predicts that Bitcoin could reach 160,000 USD in just a few months — an increase of more than 47% from the current price.
According to the chart he shared, Bitcoin is trading in a range from 75,000 USD to 160,000 USD, with the midpoint being the current price.
Finally, he believes that if BTC maintains a bullish trend, a slight correction could bring the price back to 100,000 USD for support testing, rather than dropping deeply to 90,000 USD like in previous cycles.