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In a recent crypto analysis making waves, an analyst known as Dave the Wave, who had accurately predicted Bitcoin's May 2021 crash, now foresees a promising turn of events for the leading cryptocurrency. Sharing his findings on the social media platform X, Dave highlighted the weekly Moving Average Convergence Divergence ( ) indicator’s bullish shift at the zero level, suggesting a potential momentum surge. This indicator is crucial in signaling trend reversals. Dave believes this time, there’s less price compared to previous cycles. He also predicts that Bitcoin is poised to exceed the 200-month Moving Average (MWA) and venture into the “buy zone” within his Logarithmic Growth Curve (LGC) model, designed to filter out short-term noise. As of the latest data, Bitcoin is valued at $34,600. Additionally, Dave is a close eye on Chainlink ( ), a decentralized oracle, which he thinks is in a strong position after breaching diagonal resistance levels and breaking free from its consolidation phase. Dave wraps up by emphasizing that success in the market lies in recognizing opportunities amid the inherent volatility rather than dwelling on abstract concepts. He also raises the intriguing possibility of Chainlink revisiting its previous all-time high of $52.70, adding an extra layer of excitement to the crypto landscape.
Read more: coinspress
