Bitcoin Trader Predicts Potential Q4 Surge as Key Indicator Shows Bullish Signs
A trader who accurately predicted the Bitcoin collapse in May 2021 is now suggesting that BTC may be gearing up for significant gains in the fourth quarter. Dave the Wave, a pseudonymous analyst, informed his followers on the social media platform X that Bitcoin’s weekly moving average convergence divergence (MACD) indicator is showing strong momentum and is nearing a reset.
The MACD is a tool used by traders to monitor potential shifts in trends. Dave the Wave highlights the previous instance when the MACD reset in late 2023, coinciding with a substantial price surge that led Bitcoin to reach a new all-time high in March.
Dave the Wave also shared a Bitcoin chart projecting that BTC could reach the $135,000 price level by mid-to-late 2025. The chart indicates a potential bullish trend for Bitcoin in the upcoming months, followed by parabolic rallies in 2025.
In a recent update, Dave the Wave hinted that BTC might begin surpassing resistance levels as early as October 1st. His chart also suggests that Bitcoin is currently trading within a triangular pattern while consolidating within a broad range, hinting at possible bullish movements ahead.
As of the latest data, Bitcoin is priced at $58,144, showing a slight decrease over the past day. The analyst’s insights and charts point towards a potentially exciting fourth quarter for Bitcoin, raising anticipation for potential price movements and market developments in the cryptocurrency space.
