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…”
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?”
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.”
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