Analyst: BTC Weekly MACD Indicates Resurgence of Bullish Momentum
According to CoinDesk, analyst Omkar Godbole stated that the weekly MACD histogram for Bitcoin has crossed the zero line, indicating a resurgence of bullish momentum.
This bullish signal coincides with Bitcoin rebounding from the 50-week Simple Moving Average (SMA), mirroring the trends seen in mid-2024 and early 2023, when BTC subsequently experienced significant increases.
The analyst noted that in the past five years, the MACD has entered the positive zone five times, with only one false signal occurring in March 2022 (circled in the chart), leading bulls to misjudge the market direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AutoStaking integrates Pendle PT assets, enabling one-click stablecoin allocation to fixed income strategies
US SEC Chair to Attend SALT Conference and Participate in Project Crypto Panel Discussion
Bitcoin Drops to $114,000 per Coin, First Time Since August 6
Trending news
MoreCrypto prices
More
