Analyst: Bitcoin weekly MACD trend indicates that the price may rise sharply
Coindesk analyst Omkar Godbole said that the weekly MACD histogram of Bitcoin has broken through the zero axis, indicating that bullish momentum is strengthening again. The appearance of this bullish signal coincides with Bitcoin rebounding from the 50-week simple moving average (SMA), which is consistent with the trend in mid-2024 and early 2023 - when BTC subsequently saw significant gains.
The analyst said that in the past five years, MACD has entered the positive zone five times, with only one false signal in March 2022 (circled in the chart), leading to a misjudgment of the market direction by the bulls.
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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