[BTC/USD daily update] - The Weekly MACD is in the positive zone... for the FIRST time since January
As the title says... the weekly MACD indicator for Bitcoin is in the 'green' or Positive zone since January.
Does that mean that we'll be in the green inmediately? Not necessarily.
It means that the sentiment is (slowly but surely) shifting from bearish to neutral/potentially bullish.
At the moment there's a bearish divergence in the 4H timeframe:
This bearish divergence should shakeout some buyers from the market as a little correction is almost guaranteed. Take care to not burn your fingers!
Nevertheless, as long as the 6800$/BTC support holds, the bullish setup is in play and the slower timeframes will cascade into the biggest ones.
Hopefully these MACD histogram will keep ramping in the following weeks-months.
Happy Trading!
Thanks for reading!
As I have mentioned before we might start a small bull run..
https://steemit.com/bitcoin/@vmefe/bitcoint-weekly-charts-analayses-s-update-2-awesome-news
Agree with ur analysis but I personally prefer a period of stagnation rather thana a 'unsustainable' bull run like the one that we had in april.
To confirm the next bull market we need consecutive positive weeks/months without going parabolic.
Hope you understand my point.
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