The Possibility of a Mini-Parabolic Bitcoin Run
An analyst who accurately predicted the crypto market crash in 2021 suggests that Bitcoin may be gearing up for a small parabolic move. The pseudonymous analyst, known as Dave the Wave, shares on Twitter that if Bitcoin surpasses a key level around $50,000, it could experience a surge. The trader’s assessment is based on his version of logarithmic growth curves (LGC) to forecast Bitcoin’s macro highs and lows while filtering out short-term volatility.
Bullish Indicators for Bitcoin
Dave the Wave also points out that Bitcoin’s logarithmic monthly moving average convergence divergence (LMACD), a long-term momentum indicator, is showing bullish signs similar to those before a parabolic breakout in 2019. The trader presents a chart indicating that this potential mini-parabolic move could push Bitcoin beyond $60,000.
Completing a Bullish Pattern
Furthermore, Dave the Wave suggests that Bitcoin might complete a bullish inverse head-and-shoulders pattern, potentially driving its price beyond $50,000. He believes this pattern aligns with the overall market cycle. Previously, the analyst stated that Bitcoin’s market structure could propel it to reach over $200,000 by December 2025.
Bitcoin’s Current Price
As of now, Bitcoin is trading at $43,932, showing a slight increase in the last 24 hours.
Hot Take: Analyst Predicts Mini-Parabolic Run for Bitcoin
Analyst Dave the Wave has made accurate predictions in the past, including the 2021 crypto market crash. Now, he suggests that Bitcoin might be on the verge of a mini-parabolic run. With key levels and bullish indicators in play, there is potential for Bitcoin to surge beyond $60,000 and complete a bullish pattern above $50,000. While nothing is certain in the volatile crypto market, Dave the Wave’s analysis provides an interesting perspective on Bitcoin’s potential future movements.
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