In a galaxy not so far away, a crypto analyst who once predicted the 2021 Bitcoin apocalypse has now spotted something that could make your digital wallet do a happy dance. 🕺
Dave the Wave, a pseudonymous analyst with a following of 149,300 on X (formerly known as Twitter, but let’s not get into that), has noticed that Bitcoin’s weekly logarithmic moving average convergence divergence (LMACD) histogram indicator is flexing its muscles. This, dear reader, could mean a rally is on the horizon. Or it could mean absolutely nothing. Welcome to crypto. 🤷♂️
The LMACD histogram indicator, for those who skipped the crypto manual, is designed to signal changes in an asset’s trend, strength, and momentum. Shrinking bars on the histogram suggest that an asset’s trend momentum is weakening. In Bitcoin’s case, the histogram’s declining red bars might just be the universe’s way of saying, “Hold onto your hats, folks!” 🎩
Says Dave the Wave, with the confidence of someone who’s seen it all,
“Bull markets climb a wall of worry. First strengthening histogram on the weekly BTC chart in 18 weeks/4.5 months. Weekly MACD itself has not been below the zero-line, in bear territory, since Feb 2023, i.e.; an ongoing bull market. People drop the ball when they ignore the technicals.”
Next up, Dave takes a look at the BTC/gold ratio, which is essentially the value of Bitcoin relative to the price of gold. Based on his chart, it seems the BTC/gold ratio may have peaked, suggesting that Bitcoin could soon outshine gold. Because, you know, digital gold is the new gold. Or something like that. 🌟
Lastly, Dave shares a chart showing that BTC has been out of the “buy zone” of his logarithmic growth curve (LGC) since it was last trading around $40,000. The LGC aims to forecast Bitcoin’s market cycle highs and lows while filtering out short-term volatility. Because who needs volatility when you can have a nice, smooth ride? 🎢
“Back when BTC was half the price that was the last time it hit the LGC ‘buy zone.’”
At the time of writing, Bitcoin is trading for $84,459, flat on the day. Because even in the world of crypto, some days are just… meh. 😐
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2025-04-16 03:03