An analyst who called the 2021 crypto market meltdown says that a key indicator is now flashing bullish for Bitcoin (BTC<\/a>).<\/p>\n The pseudonymous trader known as Dave the Wave tells<\/a> his 153,800 followers on the social media platform X that the Moving Average Convergence Divergence (MACD) indicator suggests Bitcoin\u2019s uptrend may continue.<\/p>\n The MACD is used to determine the direction, momentum and duration of a trend or to identify potential buy and sell signals.<\/p>\n \u201cLonger-term monthly BTC MACD turning upward again.\u201d<\/em><\/p>\n Looking at his monthly chart, the MACD histogram was starting to weaken after surging, but has just begun to trend upward again.<\/p>\n Dave the Wave also says<\/a> that BTC may soar to $160,000 in just a couple of months, a more than 47% increase from its current value.<\/p>\n \u201cThe BTC microcosm of the macro.\u201d<\/em><\/p>\n Looking at his chart, the analyst suggests Bitcoin is trading in the middle of a range with a lower bound of $75,000 and an upper bound of $160,000.<\/p>\n Lastly, he says<\/a> that if Bitcoin remains in the bullish trend, a market correction could see the flagship crypto asset retest $100,000 as support, stopping short of a more severe decline.<\/p>\n \u201cIf the fractal held, a very weak partial right shoulder would form, not a full one \u2013 $100,000, not $90,000.\u201d <\/em><\/p>\n Bitcoin is trading for $108,832 at time of writing, down 1.4% in the last 24 hours.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" An analyst who called the 2021 crypto market meltdown says that a key indicator is now flashing bullish for Bitcoin (BTC). The pseudonymous trader known as Dave the Wave tells his 153,800 followers on the social media platform X that the Moving Average Convergence Divergence (MACD) indicator suggests Bitcoin\u2019s uptrend may continue. The MACD is […]<\/p>\n","protected":false},"author":2,"featured_media":393595,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-393594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/393594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=393594"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/393594\/revisions"}],"predecessor-version":[{"id":393596,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/393594\/revisions\/393596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/393595"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=393594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=393594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=393594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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