Dave Wave named three indicators of bitcoin growth

A well-known crypto analyst who predicted a bitcoin crash in May 2021 claims that one of the indicators signals a new bullish trend for bitcoin BTC $75,877.97 Bitcoin -0.04% Market capitalization $1.5 trillion VOL. 24 hours $3.38 billion . The trader, known as Dave the Wave, drew attention to the MACD (moving average convergence-divergence) indicator on the weekly chart of bitcoin. According to him, the MACD recently crossed the zero line, which is considered a signal for an upward trend change.

MACD is a momentum indicator that traders use to identify possible trend reversals. Dave the Wave notes that this indicator has repeatedly demonstrated similar signals for the market leader on long-term charts, confirming the potential for further growth.

In addition, the analyst suggested that the previous resistance level of about $ 67,000 could become a new support level.

Dave the Wave also drew attention to Dogecoin DOGE $0.10 Department Of Government Efficiency -2.13% Market capitalization $0.1 billion VOL. 24 hours $0.74 billion , stating that the meme coin could form an ascending triangle on the daily chart, which is considered a positive signal. The analyst suggests that if the key resistance level is broken, DOGE could rise to $ 0.20, and possibly reach its all-time high of $ 0.73 during this cycle.

In conclusion, the crypto expert warns investors about the risks in the market and advises them to conduct their own research before making investment decisions.