Red lines = everytime MACD
(11,24,11) divergence has gone below -10 after being up > +10. As you can plainly see, it's pretty rare that the 1 day MACD
is unreliable with these parameters. This recent fall has tried and failed multiple times to get past the 2951CNY mark. If we use 11/10 as a guide BTC
would be going down 20% to around 2330---however I'm at least a little more optimistic that it will, at worst, bounce on the 2450 (or maybe simply 2500) fibonacci support line before climbing back up.
in mind (no pun intended) that the 1 week MACD
is due for a drop though, meaning things could get perilous real fast.