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Dave the Wave, a renowned analyst who previously predicted Bitcoin’s 2021 crash, indicates that the cryptocurrency could climb to $160,000, driven by an upward momentum in the long-term monthly MACD indicator. The analyst emphasizes that the MACD histogram has transitioned into a positive zone after a period of stabilization, signaling a potential price surge. While Bitcoin 
$105,291 currently fluctuates between $75,000 and $160,000, maintaining support at the $100,000 level is crucial for sustaining this upward trajectory. Despite market downturns, sustained investor interest reinforces confidence in the analyst’s optimistic projections.
Long-Term MACD Indicator Captures Investor Attention
In a chart shared by Dave the Wave, the MACD line and histogram distinctly curve upward following a weakening observed in mid-2024. The MACD’s crossover into the positive region is seen as a classic indicator of strengthening trends. According to the analyst, long-term investors should heed this metric, with historical MACD reversals having triggered significant rallies in past cycles.
From a technical perspective, Bitcoin exhibits a market structure favorable to buyers, characterized by rising lows in weekly candlesticks. However, given the persistent volatility, the analyst advises refraining from panic during short-term pullbacks and recommends observing momentum indicators along with volume confirmation. The fractal similarities in charts align with previous bull market formations, and the analyst highlights the potential of an “underdeveloped right shoulder” keeping prices around the $100,000 mark.
Targeting $160,000 and Key Support Levels for Bitcoin
Dave the Wave argues that current macroeconomic conditions and on-chain data pave the way for Bitcoin to test the $160,000 mark within a few months. The increasing investor sentiment and continued institutional purchases validate this broad price range. The analyst underscores that as long as Bitcoin holds above $100,000, the primary bullish structure remains intact, marking this level as both a psychological and technical threshold.
In a potential correction scenario, the $90,000 – $100,000 range is expected to be robustly defended due to residual demand from previous peaks. Dave the Wave notes that a potential rebound from this support level could inject fresh momentum into the market, while urging caution in leverage usage. Furthermore, a break above $110,000 with a weekly close is deemed a critical milestone that could accelerate the path to the $160,000 goal.
