Bitcoin Daily MACD Flips Red For First Time Since $20K Was Taken

Traders use the MACD indicator to identify turning points, facilitate entries on pullbacks and capture the larger part of a move until the trend starts to reverse course. The Moving Average Convergence Divergence, also called the MACD, is a trend-following momentum indicator used widely by traders. Although the MACD is a lagging indicator, it can be very useful in identifying possible trend changes.BTC/USDT daily chart. Source: TradingViewThe MACD oscillates above and below a zero line, also known as the centerline. The shorter moving average is subtracted from a longer moving average to....

Bitcoin price is back at $48,000 and with the most recent weekly close, momentum has flipped bullish for the very first time this year. With the momentum now behind bulls, what might this mean for the cryptocurrency market in the weeks and months ahead? The MACD And Bullish Weekly Bitcoin Momentum Markets are always seeking equilibrium. When a large move materializes, the same momentum that carried an asset upward, pulls it downward when the trend begins to topple. This makes momentum among the most important factors in determining if and when a trend might change. Related Reading |....

Recent data has shown what the XRP price would be if it flips Ethereum’s market cap. Such a development would also lead to a new all-time high (ATH) for XRP. Meanwhile, crypto experts have given their opinions on whether XRP could indeed flip Ethereum.  How High The XRP Price Would Be If It Flips Ethereum’s Market Cap MarketCapOf data shows that the XRP price could reach as high as $3.94 if it flips Ethereum’s market cap. This is significant as a rally to this price level would mark a new ATH for the asset.  Flipping ETH’s market cap also means that XRP will become the second largest....

Although Dogecoin price dropped yesterday to around 56 satoshis, it increased during later trading hours to record a high of around 63 satoshis. Dogecoin price opened today at 61 satoshis, yet it dropped to around 58 satoshis at the time of writing of this article. By studying the 1 day Hitbtc (DOGE/BTC) chart from tradingview.com and plotting the MACD indicator accordingly, we can notice the following: Even though dogecoin price dropped yesterday to 56 satoshis, the strong support at 52 satoshis (The 38% Fibonacci retracement level as per our earlier analysis) reversed the downtrend and....

The bitcoin price chart has been whip-sawing as buyers eagerly anticipate the next advance, while profit-takers capitulate on each approach of $780 (Bitstamp). Technical analysis finds a repeating pattern and its potential outcome. The 1hr candle Bitfinex chart illustrates the dynamic of price consolidation and MACD compression. MACD compression is evident from its Bollinger Bands. As annotated in the chart, the Bollinger Bands contract around MACD as price consolidates into a narrowing range. Although MACD tends towards its zero line during price consolidation (decreasing volatility), we....