RE: Bitcoin Price Indicator Turns Bullish in First Since Early 2018
From the article:
- Bitcoin’s two-week moving average convergence divergence (MACD) histogram has turned positive for the first time since early February 2018, signaling a longer-term bearish-to-bullish trend change.
- While the MACD is a lagging indicator, the historical data indicates the previous bull market began following a positive crossover on the indicator.
- In the short term, BTC’s hourly chart indicators have turned bearish, so a drop to $5,000 could be seen in the next day or two if crucial support below $5,200 is breached.
- Prices may still rise to recent highs above $5,400 if the bulls can defend the that support level and drive price upwards.