Bitcoin's weekly MACD just crossed bullish for the first time in 11 months
MACD is green for the first time since Bitcoin's all-time highs, but a correction is the "most obvious" first step, one trader says. Bitcoin (BTC) kept traders guessing later on Aug. 18 as one forecast said that a $40,000 dip would be the “most obvious” next move.BTC/USD 1-hour candle chart. Source: TradingView.com$37,000 is last chance saloon for BTCData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged around the $45,000 mark on Wednesday, with no clear direction on lower timeframes.A dip to $44,200 earlier on the day reversed upwards, but the pattern for the....
Related News
LUNA’s price still risks correcting, however, with a weakening RSI and decreasing trading volume. A technical setup that preceded an 80% price rally in the Terra (LUNA) market in August 2021 has appeared again.LUNA paints bullish MACD crossoverThe technical setup involves a so-called “signal line crossover” between LUNA’s weekly MACD line — equal to the difference between the token’s 12-week and 26-week moving averages (MA) — and the nine-week MA called the signal line, plotted above the zero line, as shown in the chart below.LUNA/USD weekly MACD illustration. Source: TradingViewTogether,....
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 |....
Weekly MACD delivered six-month gains of 450% the last time it flipped into bullish territory. Bitcoin (BTC) is wowing the market by holding $50,000, but a bullish metric is pointing to much larger potential gains.Data from TradingView now clearly shows that the weekly moving average convergence/ divergence (MACD) indicator for BTC/USD has flipped from red to green.Time for another 5.5X BTC price surge?There is no shortage of bullish BTC price indicators this month, with everything from exchange balances to network fundamentals infirmly optimistic mode.MACD, which produced a rare crossover....
The price of BNB hasn’t fallen below its previous low, and it’s showing some strong signs of heading up. After a spell of moving downward, the Binance Smart Chain’s native token is aiming for an upward bounce back towards its earlier high. Technical Indicators Point Toward Sustained Uptrend For BNB To figure out where the BNB price might be headed next, several indicators can be used to examine the chart: 4-Hour MACD: A technical look at the MACD indicator from the 4-hour timeframe, the MACD histograms are trending above the zero line, and both the MACD line and the....
Terra’s LUNA has been trending to the downside in the past few days, but different indicators show interesting signs and the next price movements could be fundamental to confirm either an extremely bullish or a bearish signal. Related Reading | LUNA Sees 17% Loss In One Week, UST De-Peg Rumors Affect Its Price? What Is Boiling Up In LUNA’s Weekly Timeframe? When an anonymous trader used Moving Average Convergence Divergence (MACD) to analyze LUNA’s next possible movements, the weekly chart showed an interesting crossover. “Something is up on $LUNA weekly....