2 analysts known for their accurate Bitcoin price predictions are discussing how BTC will react to the 200-week MA. BTC should surpass these levels next week for $20,000…
Knowing the May 2021 crash, the analyst says the Bitcoin price has bottomed out
An accurate crypto analyst says a Bitcoin (BTC) analysis points to 2015 and 2018 lows. cryptocoin.com As a result, we have discussed Dave the Wave’s accurate predictions in this article. In his current analysis, Wabe says the MACD indicator on the weekly chart is currently hovering at record lows:
The weekly Bitcoin MACD is now at ATH levels. Let’s see if we can get a boost/white histogram next week….
The MACD is used to detect a possible downtrend.
Analyst argues that Bitcoin price will react to 200-week MA
Dave the Wave also says that Bitcoin’s 2015 and 2018 bearish lows are also following the 200-week MA. According to the analyst, he now sees Bitcoin following the 200-week moving average due to the macro flattening principle. Looking at the chart below, the analyst says:
This principle of macro flattening in price indicates that the Bitcoin 200-week MA will cross at some point and eventually become an average rather than a support. Notice how high it is in the channel.
BTC is currently down over 70% from the ATH level. However, Dave the Wave says that the long-term outlook for BTC is still bullish, based on its logarithmic growth curve model (LGC):
Reminder: Bitcoin has not been broken on the LGC basis since 2018. What breaks is a huge amount of expectation and sentiment, this is what the pragmatic investor wants to see when buying.
DonAlt shared a scenario where Bitcoin will return
The next analyst, DonAlt, is closely watching the 200-week moving average, similar to Dave the Wave. According to DonAlt, a rally above the 200-week MA will ignite BTC’s bullish momentum. DonAlt also says that if Bitcoin manages to rise, he is looking at $28,000 as his first target. He underlines that the target price of the rally could be much higher depending on the market structure. For higher levels, the analyst says:
But if we roll here and go somewhere like $23,000 to $24,000 and then squeeze, so we build a base, I really don’t think there’s a good reason to sell at $28,000. So I will hold on to my investment and try higher.
Bitcoin is trading in the $19,500 region at the time of writing. It has lost more than 4% in value since last week. cryptocoin.comWe are presenting the current Bitcoin analysis here.
