Analyst: Bitcoin Weekly MACD Indicates Potential for Significant Price Increase
Coindesk analyst Omkar Godbole stated that the weekly MACD histogram for Bitcoin has broken above the zero line, indicating a resurgence of bullish momentum. This bullish signal coincides with Bitcoin's rebound from the 50-week Simple Moving Average (SMA), mirroring the trends seen in mid-2024 and early 2023—periods that were followed by significant BTC price increases. The analyst noted that over 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), which led 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.
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