Analyst: Bitcoin weekly MACD trend indicates that the price may rise sharply

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On May 14, Coindesk analyst Omkar Godbole stated that the BTC weekly MACD histogram has broken through the zero axis, indicating that bullish momentum has been re-strengthened. This bullish signal appeared just as BTC rebounded from the 50-week simple moving average (SMA), which is similar to the trend in mid-2024 and early 2023 - when BTC subsequently experienced significant increases.

The analyst noted that in the past five years, the MACD has entered the positive zone five times, with only one false signal in March 2022 (circled in the image), which led to bulls misjudging the market direction.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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