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 $77,643.28 Bitcoin -2.28% Market capitalization $1.56 trillion VOL. 24 hours $1.27 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 $0.08 Dogecoin -3.09% Market capitalization $13.15 billion VOL. 24 hours $48.45 million , 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.