A top cryptocurrency analyst known for predicting the May 2021 Bitcoin crash said that certain indicators are signaling a bull market for BTC.
A pseudonymous trader known as Dave the Wave told his 146,700 followers on social media platform He says it's a bullish signal.
MACD is a momentum indicator used by traders to monitor potential trend reversals.
Dave the Wave also points out that the monthly MACD consistently signals a bullish market for Bitcoin over a multi-year pattern.
The analyst also suggested that Bitcoin's previous resistance near $67,000 may be turning into support.
However, BTC is trading below that at the time of writing, falling to $66,619. The top crypto asset by market capitalization has fallen nearly 2% in the past 24 hours.
Dave the Wave also recently told his followers that top meme asset Dogecoin (DOGE) could form a bullish ascending triangle on the daily time frame. A triangle pattern is considered bullish if the asset clears a major resistance level.
Looking at his chart, the analyst sees DOGE consolidating in a broader symmetrical triangle pattern that could soon break through any resistance that could put the meme coin in the $0.20 range. seems to be suggesting. He also seems to suggest that DOGE will rise to an all-time high near $0.73 during this cycle.
DOGE is trading at $0.139 at the time of writing.
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