Bitcoin - Bullish Weekly MACD Cross

1 thg 5, 2020

Bitcoin has been in this large triangle with diagonal support and diagonal resistance lines. The move from 3.8k low to the 9.4k high was an impulsive move signalling a trend reversal in my opinion. The MACD indicator on the weekly chart has crossed bullish and the last two times this happened bitcoin rallied from 3000's in Feb 2019 to 13.8k and this year it rallied from low 7000s to 10,500 as shown on the chart. This bullish MACD cross as shown on the chart could potentially mean another leg of bullish weekly candles and the start of a major rally !