An analyst who accurately predicted the May 2021 Bitcoin crash suggests that BTC could see gains in the fourth quarter based on a key indicator.
Known as Dave the Wave on X, the analyst highlights BTC’s weekly moving average convergence divergence (MACD) indicator, which is nearing a reset and showing strong momentum.
The MACD is a tool used by traders to monitor potential trend changes. Dave the Wave references a previous MACD reset in late 2023, which preceded a significant price surge leading to a new all-time high in March.
Additionally, the analyst shares a chart projecting BTC could reach the $135,000 range by mid-to-late 2025.
“BTC macro.”
Analyzing the chart, it appears that Bitcoin is poised for bullish momentum in the near future, with potential for parabolic rallies in 2025.
Earlier, Dave the Wave suggested that BTC could start breaking resistance levels as early as October 1st.
The analyst’s chart also indicates that Bitcoin is consolidating within a triangle pattern and a wide range.
“BTC 4th quarter fireworks?”
Currently, Bitcoin is trading at $58,144, showing a slight decline in the past day.
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