The trader who accurately called the crypto market correction in May 2021 says that Bitcoin’s (BTC) market structure is now potentially on track to approach the $200,000 mark if all goes well.
Pseudonymous trader and analyst Dave the Wave tells his 143,000 followers on the social media platform X that Bitcoin’s moving average convergence divergence (MACD) indicator on the monthly chart is signaling strong bullish momentum for BTC.
-->The MACD is traditionally used to spot trend reversals and confirm trends.
“Another histogram on the BTC monthly MACD printed.
How many are expecting something like this?”
Source: Dave the Wave/XBased on the trader’s chart, Dave the Wave appears to predict that BTC will rally above $200,000 by December 2025.
With Bitcoin looking bullish, Dave the Wave notes that there could be too much of a consensus on BTC, opening up the possibility of BTC hitting his upside target way sooner than his initial timeline.
“Seems to me a bit of a problem here.
On a technical basis, it looks fine, but if most are expecting it, this becomes problematic [from the contrarian perspective].
Perhaps it will be front-run by a year…”
Dave the Wave uses his own version of logarithmic growth channels (LGCs), which aim to roughly project the highs and lows of Bitcoin’s long-term market cycles while filtering out shorter-term volatility.
According to the analyst, Bitcoin has been in the “buy zone” of the LGC for almost a year and a half but it looks close to breaking out.
“BTC price in the LGC buy zone now for nearly one and a half years, 17 months. How many more months I wonder…
Shaded zone on the chart since 2018.”
Source: Dave the Wave/XAt time of writing, Bitcoin is trading at $38,784.
