A popular analyst who has accurately predicted some of the leading crypto’s collapses has made some hot predictions. The analyst, who correctly named the May 2021 meltdown of Bitcoin (BTC), now says that BTC has entered the ‘buy zone’.
Ambitious forecast from the analyst: Bitcoin entered the buying zone!
The analyst, nicknamed Dave the Wave, shared his Bitcoin predictions to his 114,700 followers. The analyst said on Monday, nearly two years later, that BTC has entered the buy zone. The analyst states that he believes $25,000 is a ‘reasonable point’ to start tiered purchases of BTC. Dave the Wave explains:
It’s also not just weekly to consider for macro charts. It is also where the monthly chart closes. From a macro perspective, it’s fair to discount a short wick. As for purchases, tiered purchases can be started at a reasonable point. I think $25,000 was that point. The price is now in long-standing buy territory, almost 2 years later.
Source: davthewave / Twitter Bitcoin is trading at $21,650 at the time of writing. The top-ranked crypto-asset by market cap has dropped more than 22% since Sunday when it traded around $28,000. At the same time, it fell more than 68% from its all-time high of $69,044, which it reached in early November last year. Dave the Wave says BTC dominance charts could be a reversal signal. The analyst uses the following statements:
Is BTC signaling a dome reversal?
Source: davthewave / Twitter The analyst also notes that Bitcoin’s monthly and weekly moving average convergence divergence (MACD) measurements are in line. In this context, the analyst makes the following statement:
The weekly MACD is now also aligned, consistent with the monthly MACD floor aligning with the bottom price. At least there is something here that is objective technical analysis as opposed to just sentiment.
Source: davthewave / Twitter Some of Dave the Wave’s accurate predictions
Popular analyst Dave the Wave predicted Bitcoin will drop to $6,400 in mid-2019 . Some time after his prediction, he reached the point set by the leading crypto analyst. At the same time, the analyst has predicted over the past years that Bitcoin will rise to around $11,000 before dropping to $8,000. And the analyst was not mistaken in this prediction either.
As it will be remembered, the crypto market was trying to recover from a decline in the past years. In this environment, the analyst claimed that Bitcoin will rise above $11,000 by February. And as with his previous predictions, the analyst predicted it correctly. However, it is worth noting that analysts have made thousands of predictions and it is normal for some of them to be accurate.
17001
