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.

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Analyst: Bitcoin weekly MACD trend indicates that the price may rise sharply

All Comments

Recommended for you

The US spot Bitcoin ETF saw a net inflow of $54.8 million yesterday.

The US spot Ethereum ETF saw a net outflow of $75.2 million yesterday.

Economists expect the Federal Reserve to cut interest rates in December, with two more cuts possible in 2026.

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He Lifeng held a video call with U.S. Treasury Secretary Bessant and Trade Representative Greer.

Hassett: No discussion with US President Trump regarding the Federal Reserve Chair (selection)

White House National Economic Council Director Hassett: It's Time for the Fed to Cautiously Cut Interest Rates

The yield on the 10-year U.S. Treasury note rose 2 basis points to 4.12%, a new high since November 2020.

Social media platform "X" has been fined €120 million by the European Union for violating content regulations.

Sovereign Wealth Funds Were Buyers as Bitcoin Plunged: BlackRock's Larry Fink

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