Renowned for his previous forecasts, analyst Dave the Wave has pointed out possible downward movements in Bitcoin 
$96,395. He noted that negative signals in the MACD indicator, which he tracks on a weekly basis, could lead to a downward correction in the current consolidation phase.
Technical Indicators
Dave the Wave expressed that Bitcoin’s MACD indicator is undergoing a restructuring process close to the zero line. The technical indicators he employs assist traders in identifying trend and entry-exit points.
Dave the Wave: “BTC ($96,255.97) weekly MACD has been reset to the zero line.”
Price Movements
The analyst observed that the price movements seen on the daily chart resemble a pattern where Bitcoin could rise to $74,000 in 2024 and then drop below $50,000. He added that the price might drop to $80,000 at the 0.382 Fibonacci level before rising again.
Dave the Wave: “Here’s the BTC rollercoaster.”
Additionally, while the analyst identifies short and medium-term bearish signals, he holds a positive outlook on long-term positions. He anticipates that, fo…
