Analyst Dave the Wave Says Bitcoin MACD Signals Bottoming Pattern, Mirrors 2022 as BTC Trades $65,826

According to Dave the Wave on X, Bitcoin's MACD (moving average convergence divergence) indicator is signaling the asset has bottomed, with the daily chart forming a pattern similar to 2022 that preceded a major breakout. The analyst told his 188,700 followers on June 17 that the current correction mirrors the three-swing decline seen in 2022, suggesting the bottom is in. Bitcoin was trading at $65,826 at the time.

Dave the Wave also noted that Bitcoin's price volatility is expected to continue decreasing, with the MACD on weekly timeframes reflecting a maturing market and increasing price stability as BTC undergoes price discovery.