Bitcoin’s chart just pulled a curveball. The MACD, that infamous tech-indicator, is flipping green for the first time since April. And no, it’s not a drill—this means the market’s vibe is shifting. But it’s not just charts speaking; momentum is back, and BTC’s now hovering near that $70K cliff, ready to jump.
The moving average convergence divergence (MACD), yeah, that long-named one, measures Bitcoin’s past few weeks to show what could be ahead. And guess what? It flipped bullish on the weekly chart, telling us things are heating up. In simple terms, buyers seem hungry. Sellers? Well, they’re getting quieter. And since this hasn’t happened since April, the timing’s kind of spicy.
MACD Turned: Bull Cross Hints at More?
Traders been watching the MACD for a while, especially since BTC was chilling in the $50K to $70K range. But the thing is, the last time this cross happened, Bitcoin broke records, shooting from $30K to over $73K. So, what now? BTC just hit $69,500 in the Asian market, getting a taste of $70K but not quite biting yet. So, with that bullish cross, things are looking like the ceiling might get shattered soon.
This bullish MACD signal came hot after the “line break chart” flashed positive, so the vibe’s good for the bulls. They’ve failed to hold above $70K before, but this cross could be the extra juice they need. Bitcoin’s risen by nearly 30% since its lows under $53K in September, so people are watching that $70K line closely. Like, real close.
Fed, Trump, and a Weak Yen
But wait, it’s not all about charts. Macro vibes are at play too. The Federal Reserve is expected to ease up on those rate hikes, and Donald Trump, with his pro-crypto stance, could shake things up if he wins the election. Throw in the weak Japanese yen, and Bitcoin’s setting up to fly.
Bulls smell $100K. Could be before year-end.
Leave a Reply
You must be logged in to post a comment.