🅱️ No Volume, Bitcoin Hits New 10 Years Low | Weekly MACD
Bitcoin's weekly MACD has only been below zero a few times in its life...
Here we see this event happening between May 2018 to April 2019.
From April 2019 Bitcoin grew until November 2021... OK!
Here is the chart:
The weekly MACD for BTCUSD hit its lowest level ever in July 2022 and now is trending up as if it is the end of the world.
It is reaching up to heaven.
The lower low on the MACD gives up a strong signal but we won't go into it.
The MACD histogram has been green since August 2022, alerting those who are on the lookout.
We can draw a trendline on the MACD from the top of April 2021 and we can see that this downtrend has been broken.
We can even call it a falling wedge pattern:
The MACD is set to go bullish soon...
As the MACD goes higher, Bitcoin's price will grow.
The MACD is a lagging indicator, so it is lagging behind the current price yet it gave us the signal in July and August when it started to go up.
Next weeks candle is expected to be stronger than this one... Or crash to hell and new lows?
Namaste.
Here we see this event happening between May 2018 to April 2019.
From April 2019 Bitcoin grew until November 2021... OK!
Here is the chart:
The weekly MACD for BTCUSD hit its lowest level ever in July 2022 and now is trending up as if it is the end of the world.
It is reaching up to heaven.
The lower low on the MACD gives up a strong signal but we won't go into it.
The MACD histogram has been green since August 2022, alerting those who are on the lookout.
We can draw a trendline on the MACD from the top of April 2021 and we can see that this downtrend has been broken.
We can even call it a falling wedge pattern:
The MACD is set to go bullish soon...
As the MACD goes higher, Bitcoin's price will grow.
The MACD is a lagging indicator, so it is lagging behind the current price yet it gave us the signal in July and August when it started to go up.
Next weeks candle is expected to be stronger than this one... Or crash to hell and new lows?
Namaste.
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