A trader who weathered Bitcoin’s May 2021 collapse says one indicator suggests BTC could be poised for gains in the fourth quarter.
The pseudonymous analyst known as Dave the Wave tells Its 146,900 followers on the social media platform
The MACD is a momentum indicator that traders use to monitor possible trend reversals. Dave the Wave points to the last time the MACD reset in late 2023, which corresponded with the start of a massive price surge that saw Bitcoin hit a new all-time high in March.
The crypto analyst too shares a Bitcoin chart estimating that BTC could reach the $135,000 price range by mid-to-late 2025.
“BTC macro.”
Looking at the trader’s chart, he seems to predict that Bitcoin will begin to gain bullish momentum in the coming months before parabolic rallies emerge in 2025.
Earlier this month, Dave the Wave shared a chart suggesting that BTC could start clearing resistance levels as early as October 1.
The analyst’s chart also suggested that Bitcoin appeared to be trading in a triangle pattern while consolidating within a wide range.
“BTC 4th quarter fireworks?”
Bitcoin is trading at $58,144 at the time of writing, down marginally in the past day.
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Generated image: Midjourney
