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Bitcoin Surge to $180,000 Could Come in, Says Analyst Who Called Big Crypto Crash – Here’s When

The crypto strategist who caught Bitcoin’s May 2021 collapse says BTC is flashing signals that suggest the crypto king is setting up a massive move to the upside.

Pseudonymous analyst Dave the Wave tells his 134,500 Twitter followers that several technical indicators are turning bullish for BTC.

“The Real Opportunity for a Big BTC Move [manage risk to both sides]:

  • Weekly MACD [moving average convergence/divergence] in the same area
  • Histogram as expanded
  • Price in the lower band/buying zone.”
Bitcoin Surge to 0,000 Could Come in, Says Analyst Who Called Big Crypto Crash – Here’s When
Source: Dave the Wave/Twitter

Looking at the Dave the Wave chart, Bitcoin seems to be following the technical setup of Q2 2019, when BTC rose from around $4,000 to $14,000 in a few months. According to the analyst, the MACD, which is a trend reversal indicator, is currently hovering in the same zone as it did before the BTC surge in 2019. The histogram, which measures the convergence or divergence of the moving averages, is also on the up and up, similar to Bitcoin’s Q2 2019 layout.

The crypto strategist says Bitcoin could explode 676% by 2024 based on his Logarithmic Growth Curve (LGC) model.

“A technical target for BTC at $180,000 late next year…”

Source: Dave the Wave/Twitter

LGC is the analyst’s attempt to predict Bitcoin’s boom-and-bust cycles amid changing macroeconomic conditions.

According to Dave the Wave, the LGC model is designed for long term Bitcoin investors.

“BTC charts are for investors – buying in a few tranches over a reasonable period of time….with price in the ‘buy zone’…could prove to be a good investment going forward.”

At the time of writing, Bitcoin is changing hands for $23,171, a fractional increase on the day.

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Featured image: Shutterstock/marymyyr/Chuenmanuse

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