Bitcoin bulls back? Critical signal on MACD

The moving average convergence divergence indicator (MACD) is a delayed indicator that many analysts have used to track long-term trend changes in various markets.

The histogram of this important indicator in Bitcoin was in most of 2018 and in the month of 2019. However, the histogram recently entered the bull zone during the rally last week, when the Bitcoin price rose to $ 4200.

MACD appearance in the Bitcoin's weekly chart, the chart: TradingView

Although the retraction was slightly lower than 4200, the weekly MACD histogram

The histogram is currently at its highest since the week of January 15, 2018, when Bitcoin's price was $ 14,000.

A crypto recognized on Twitter Dave the Wave, a currency analyst, is using the weekly MACD to look for data that supports the current bear market.

The biggest crypto money Bitcoin is trading at $ 3843 on Bistamp at the time of publication. Yesterday, it is eagerly anticipated that the $ 3700 level would continue to maintain its momentum following the $ 150 rise of the crypto money, which was relatively easy to defend.

News: NewsBTC

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