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.

https://www.coindesk.com/bitcoin-price-indicator-turns-bullish-in-first-since-early-2018

 

Expert Asked on April 18, 2019 in Bitcoin.
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