A popular crypto analyst says one key Bitcoin (BTC<\/a>) metric suggests the top crypto asset by market cap is officially on the road to recovery.<\/p>\n Pseudonymous analyst Dave the Wave tells<\/a> his 139,200 Twitter followers that Bitcoin’s monthly moving average convergence divergence (MACD) indicator now looks long-term bullish.<\/p>\n \u201cIf the monthly MACD indicator suggested the top of the market at the end of 2021, which was then confirmed with subsequent price action, at a time when most were still in the throes of uber-bullishness, then doesn’t this then add extra weight or veracity to the metric now suggesting (if not confirming) a recovery in price on its path back towards higher prices?\u201d<\/em><\/p>\n The MACD is a momentum indicator that traders use to watch for possible trend reversals. Dave the Wave says the MACD indicator has been an accurate BTC indicator in the past.<\/p>\n Dave the Wave, who is known for calling Bitcoin’s May 2021 price collapse, also notes<\/a> that there’s been a “brief hiatus in the weekly BTC MACD after a solid move up.”<\/p>\n Bitcoin is trading at $31,017 at the time of writing. The top crypto asset is up 1.3% in the past 24 hours, around 0.7% in the past week, nearly 14% in the past month, and roughly 87% since the start of 2023.<\/p>\n Don’t Miss a Beat SUBSCRIBE<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
\ncheck price action<\/a><\/span><\/em>
\n
\nFollow us on Twitter<\/a>, facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nsurfing The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n
![](\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\")
<\/center><\/p>\n