An analyst with a history of making timely Bitcoin calls believes that BTC is gearing up for a huge upside burst despite struggling to clear the $110,000 level.
Pseudonymous analyst Dave the Wave tells his 153,800 followers on the social media platform X that he’s keeping a close watch on Bitcoin’s moving average convergence divergence (MACD) indicator on the weekly chart.
The MACD is a technical indicator that tracks the convergence and divergence of moving averages to gauge an asset’s momentum and trend direction while pinpointing potential reversal areas.
Trending: Police Forced to Call in Aerial Support as ‘Senior Cut Day’ Spirals Out of Control
According to Dave the Wave, BTC’s weekly MACD suggests that Bitcoin is bullish and is primed to hit a diagonal resistance that has marked market tops since 2012.
“On the basis of the weekly BTC MACD
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!