Bitcoin Daily MACD Flips Red For First Time Since $20K Was Taken

Bitcoin Daily MACD Flips Red For First Time Since $20K Was Taken


Bitcoin yesterday saw its largest daily red candle in its history in terms of total dollars moved. Today, the selling has continued, and it has caused the MACD to turn bearish for the first time since the leading cryptocurrency by market cap took out $20K.

Is this a sign of a short term reversal, or is the top of the bull market already here? Here’s what the Moving Average Convergence Divergence indicator says about the recent price action in crypto.

Have Bitcoin Bears Regained Control Of The Top Cryptocurrency?

Trending: Bo Polny Says Inauguration #2 Is Coming, Watch March 6 and April 25-26

Bitcoin started off the year with among its sharpest weekly advances yet, taking the asset from under $30K to above $40K. The rounded number more than double its former peak posed the first resistance for the asset since the breakout from $10,000.

The rally began, and Bitcoin never turned back – at least until now. Although bulls have been in control for months now, hidden bears attacked above $40,000 and

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend