Dave the Wave, a well-known influencer on Twitter with more than 100,000 followers, has posted a bitcoin (BTC) price prediction. He indicates that he thinks bitcoin is heading for 48 months moving average is going to move. This has often been a place where bitcoin makes a bottom in the past.
Previous Success Predicting Bitcoin
The analyst also managed to predict the bitcoin crash in May 2021 and later also the double top pattern, or a double peak pattern, at $69,000. He now predicts that the bottom is in sight and could possibly form this month.
He says: “No doubt another month in [op basis van deze statistiek] …that’s what you’d expect if the price were to retest the lows over the course of this month†
Arguably, another month in it [on the basis of this metric]… which is what you’d expect if price is to re-test the lows over the course of this month. pic.twitter.com/vdstJOqpMG
— dave the wave🌊🐫 (@davthewave) May 14, 2022Advertisement
BTC peak and bottom
Dave the Wave had indicated in October 2021, when bitcoin broke through the $60,000 mark, that he believed it would double peak around $65,000 before bitcoin dips back down and forms a double bottom around $29,000.
He indicated that he would not be surprised that bitcoin is now forming a double bottom since we have also seen a double peak before.
Dave also looks at various technical indicators. For example, he indicates that the moving average convergence divergence (MACD) indicates that bitcoin is ready for a bottom.
†The comparison of bitcoin’s weekly MACD structure looks promising…†
— dave the wave🌊🐫 (@davthewave) May 13, 2022Advertisement
Crypto Insiders Predicted a Price of $28,800
Not only Dave the Wave was able to predict bitcoin well. One of the analysts of the Premium environment of Crypto Insiders shares various technical analysis daily and erases on March 31when bitcoin’s price was at $47,000, predicting that bitcoin might drop to $28,800.
Later on April 12, we had a better choice and the $28,800 completely clear† All technical analyzes are archived and can be viewed again. Together with the community, we try to find great entry and exit points for various cryptocurrencies including bitcoin, ethereum (ETH), Cardano (ADA) and more.