Crypto analyst who is widely respected believes that Bitcoin (BTC’s) delayed entry into the most explosive stage of the cycle has both pluses as well as minuses.
Dave the Wave, a pseudonymous analyst on the social networking platform X, tells 147.700 of his followers that Bitcoin could remain in a bullish technical trend for a little while before going parabolic.
The simple truth is, the BTC hasn’t yet gone parabolic. It’s both a good and bad thing. This is both a positive and a negative. Positive in the fact that prices are still stable and will eventually rise, as opposed to when they spiked earlier.
This led to a market overreaction as the numbers were so high. I believe there is a’money-illusion’ element at play here. Remember that despite sober technicals, the price could change on a dime in the direction of the upside. .”
Dave the Wave’s version of Logarithmic Growth Curves (LGCs) is used to predict Bitcoin market cycle highs, lows and filter out volatility.
The trader suggests, by looking at his chart that LGC may test its support levels around $70,000 while maintaining the bullish overall trend.
Bitcoin, he says, is in a phase of consolidation until it breaks out from a major trendline.
Technically, still very solid.” The .” is still solid.
Bitcoin has fallen 13.2% since the previous two weeks, trading at $92,338.
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The post Top Crypto analyst Says Delayed Parabolic Bitcoin Rally is Both Positive and Negative — Here’s what He Means could be updated as new information becomes available.
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