Bitcoin 
$106,874 is back in the spotlight thanks to the insights of renowned crypto strategist Dave the Wave, who correctly predicted the market downturn in 2021. Through his technical analysis, he suggests that Bitcoin may reach new peaks this year, particularly as positive indicators capture the attention of the market.
Technical Charts Sending Strong Signals
Dave the Wave employs the logarithmic growth curve (LGC) model to understand Bitcoin’s price movements. This model reveals the asset’s long-term cyclical structure while filtering out short-term noise. Notably, the strategist highlights that the LGC exited the “buy zone” when Bitcoin was around the $40,000 mark, indicating the potential start of an upward trend.
The LGC model has previously identified market peaks and troughs accurately. As Dave the Wave emphasizes with the phrase “Price on track,” Bitcoin’s price is closely following the path set by the model. This alignment suggests a maturity in the market, according to the strategist.
The LGC model stands out as a reliable tool for long-term investors, offering a structure that is less reactive to short-term price fluctuations. This allows investors to make decisions based on data rather than emotion.
MACD and Market Dynamics
Another key indicator in Dave the Wave’s analysis is the logarithmic moving average convergence divergence (LMACD). Staying above the zero line on a weekly basis, this indicator is viewed as strong technical support for Bitcoin. The strategist points out that the LMACD has not dipped into negative territory since the beginning of 2023, signaling a positive market direction.
Dave the Wave recalls the ongoing positive trend with his statement, “BTC weekly MACD has not been in bear territory since early 2023,” asserting that technical indicators support a bullish inclination. Such signals can play a crucial role in long-term investment decisions.
The prospect of Bitcoin testing the $90,000 level aligns well with this technical outlook. The strategist’s comments, such as “Bang on target” and “BTC chugging away like clockwork,” indicate that price movements are proceeding as expected, presenting a reassuring picture of market stability.
In addition to technical analyses, factors like investor sentiment and trading volume further support this upward trajectory. Increased trading volumes accompanying the rise signify the market’s vitality.
