Dave the Wave, the crypto analyst who correctly predicted Bitcoin’s May 2021 crash, says data from MACD (Moving Average Convergence/Divergence), a popular momentum indicator, suggests that Bitcoin could experience a strong rally in the fourth quarter.
Addressing his 146,900 followers on X, Dave the Wave noted that BTC’s weekly MACD indicator is approaching the reset point “quickly and strongly.”
Will Bitcoin reach a new price record?
The MACD is known as a momentum indicator that traders use to watch for potential trend reversals. Dave the Wave reminds us that the MACD last reset in late 2023, which coincided with a major price rally in March that saw Bitcoin reach a new all-time high.
The analyst also shared a chart predicting that Bitcoin could reach $135,000 by mid-to-late 2025. Dave the Wave suggests that Bitcoin could start to gain bullish momentum in the next few months, leading to parabolic rallies in 2025.
Earlier this month, the analyst shared a chart suggesting that Bitcoin could begin to break out of resistance levels as early as October 1. According to the chart, Bitcoin appears to be trading inside a triangle formation while consolidating within a wide range. Dave the Wave emphasized this expectation with the question, “BTC fourth-quarter fireworks?”
Stay tuned for new information.