Crypto

Crypto Trader Who Accurately Scored Two Separate Bitcoin Crashes Analyzes The State Of BTC

A crypto trader who accurately called Bitcoin’s crash in May 2021 now says that BTC has entered its “buy zone.”

Pseudonymous trader Dave the Wave He says his 114,700 Bitcoin followers entered his buy zone on Monday after nearly two years above.

the analyst He says he believes that $25,000 was a “reasonable point” to start racking up BTC purchases.

“You also have to take into account for the macro charts where not only the weekly chart is closed but also the monthly chart. From a macro perspective, it’s fair to rule out a short wick.

As for purchases, they should start piling up at a reasonable point. 25K was that point [in my opinion]…

The price is now back in the long-standing buying zone after [nearly] 2 years…”

Source: davthewave/Twitter

Bitcoin is trading at $21,836 at the time of writing. The top-ranked crypto asset by market cap is down more than 22% since Sunday, when it was trading at around $28,000. It is also down more than 68% from its all-time high of $69,044, which it hit in early November of last year.

dave the wave He says The BTC dominance charts could be signaling a change.

“BTC dom signaling a change?”

Source: davthewave/Twitter

The analyst also grades Bitcoin’s monthly and weekly moving average convergence divergence (MACD) metrics are lining up.

“Based on the monthly MACD lining up with the price lows, the weekly MACD now lining up as well…

At least you have something here that is objective technical analysis rather than just sentiment.”

Source: davthewave/Twitter

Check price action

Never miss a thing – sign up for crypto email alerts straight to your inbox

Follow us TwitterFacebook and Telegram

Surf The Daily Hodl Mix

&nbsp

See the latest news headlines

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock/KDdesignphoto

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button