The crypto strateg, which nailed the Bitcoin market in the 2021 market, believes that the BTC remains on the way to print new record maximums this year.
The pseudonymous analyst Dave Valool informs its 150 500 subscribers on the Social Networks platform X that Bitcoin can take off up to more than 200,000 dollars by the end of the year, based on its logarithmic growth curve (LGC).
Dave The Wave activates the diagram that shows that the BTC has left the “purchase zone” of its LGC, since it was the last time it is trading about $ 4,000.
LGC seeks to predict the maximum and falls of the Bitcoin market cycle, simultaneously filtering short -term volatility.
“The diagram from when the BTC was significantly lower than half of the current price and in the LGC purchase area. The price on the track. “
The analyst says that the latest Bitcoin rally restores the range of $ 90,000, additionally confirms its price forecast.
“A blow to the target.”
He also shares a diagram suggesting that Bitcoin remains in the ascending channel in LGC.
“BTC comes out as a clock mechanism – market maturity.”
Finally, the analyst notes that the weekly indicator of the divergence of convergence of contact in the logarithmic average (LMACD) is still higher than the zero line, which historically acted as BTC support.
The LMACD indicator is designed to alarm changes in the trend, strength and pulse of the asset. As a rule, the asset is considered as bullish when it crosses the Lmacd Zero line.
“Remptoms: BTC Weekly MACD was not on the territory of the bear, below the zero line, from the beginning of 2023.”
Bitcoin is traded by 92,651 dollars at the time of writing, which over the past 24 hours has grown by 2.2%.
Generated image: midjourney
