Bitcoin price lost $1,500 more after inflation data from the US, but buyers from the $43,400 region pushed the price back above $45,000. According to crypto analyst Dave the Wave, known for his accurate predictions, there is a “good chance” for Bitcoin (BTC) to invalidate the $25,000 bearish trend. Here are the expected levels…
Analyst says that 25 thousand dollars is invalid in Bitcoin (BTC)
You can find the accurate predictions of the analyst, which we quoted as Kriptokoin.com. In his current analysis, Dave the Wave says that BTC price has broken out of a bearish spiral:
The expected $25,000 target seems less likely. For the most part, I’ve reached 70% of the way from the top to there, but once again I’ve fallen below the Fibonacci level.
Analyst warns that prices could fall even if the channel breaks down
BTC could end in a “wide turbulent range”, according to Dave the Wave. Blinking at Bitcoin’s monthly and weekly moving average convergence divergence (MACD) metrics, the analyst shares conflicting flashing signals:
Weekly MACD is strengthening after reset. Monthly MACD is still close to zero. It implies the possibility of additional consolidation and sideways shifting.
MACD indicators are used to understand trends.
Analyst thinks $100,000 will be exceeded in a year
2021, powered by popular on-chain analyst PlanB’s Stock-to-Flow (S2F) model It passed with expectations of 100 thousand dollars. However, BTC price slumped to the $40,000 region by the new year and touched $33,184.06 on Jan. 24. At current levels, the leading cryptocurrency is struggling to surpass the $45,000 resistance. Although this level was passed on February 10, inflation data from the US caused up to 5% selling pressure across the crypto market. Bitcoin lost 3.12% on the hourly candle on February 10 at 13:00. While the price is testing $45,000 again with buyers coming from the $43,400 region, Dave the Wave, who thinks that Bitcoin has escaped the danger of $ 28 thousand, predicts that Bitcoin will exceed $ 100 at the end of this year or at the beginning of 2023.
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