Crypto analyst Dave the Wave highlighted that Bitcoin’s weekly MACD (Moving Average Convergence Divergence) is on the verge of crossing bullishly from a strong position, suggesting renewed momentum could be underway.
Convergence Divergence is on the verge of crossing bullishly from a strong position, suggesting renewed momentum could be underway.
The MACD indicator, often used to gauge the strength and direction of trends, is shifting upward, reinforcing bullish sentiment.
The accompanying chart shows Bitcoin trading within a rising channel, supported by historical Fibonacci levels.
This technical setup, paired with the bullish MACD cross, suggests that BTC may continue its upward trend if broader market conditions remain favorable.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-technical-indicator-signals-bullish-momentum-shift/