Bitcoin’s gets bullish signal from MACD. Next stop above $70,000?
The post Bitcoin’s gets bullish signal from MACD. Next stop above $70,000? appeared on BitcoinEthereumNews.com. Traders typically do not rely on a single indicator to determine market trends. But this particular MACD has proved reliable as a standalone gauge through the price crash from the record high of $126,000. Since October, negative crossovers have reliably marked the start of steeper declines, while positive crossovers have preceded meaningful recovery rallies – including the December–January bounce and the February–May bounce. BTC’s daily chart. (TradingView) The latest bullish crossover therefore points to a notable bounce ahead, though not necessarily the start of a full-blown new uptrend. That bigger move would need more confirmation, which is why the key resistance levels below are now in focus. Key levels ahead The first level to watch is the 50-day simple moving average, currently around $65,434. This is simply the average bitcoin price over the past 50 days (roughly two