Bitcoin Weekly MACD Hits Lowest Level Ever... Bulls Next!

Just as we just saw with the weekly RSI, Bitcoin's MACD just hit its lowest level ever... Let's have a look.

As you can see, the first signal that comes out in favor of the bulls is the classic hidden bullish divergence.

We have a very clear and strong higher low when it comes to BTCUSD.
(Look at the current price compared to March's low 2020).

On the MACD, we have a lower low and that's the hidden bullish divergence.

The MA200 black and EMA300 grey lines have been hit/activated as support.
These are long-term indicators that have always held as support.

Back in 2015, BTCUSD MA200 weekly worked perfectly as support.

The same happened in 2018 with MA200/EMA300 and again in 2020 Bitcoin found support right at the same level where these indicators stand.

This is signaling to us that bottom/low is very likely to be set in at this point.
There can be shakeouts and long lower wicks... But we are likely to see Bitcoin close above these levels (MA200/EMA300) by the end of the week.

Your comments are welcome.

Hitting LIKE, SHARE & Follow is a way to show some support.


Namaste.

Comment:

THE CHARTS CAN ALWAYS CHANGE

You need a plan, knowledge and experience to trade.

There is always risks involved.

Here we read the charts but new information is coming in at all times.

Things can always change and invariably change, always.

Whatever we see now won't stay the same for long.

We map the different support and resistance levels and buy when we see high probability that our move will really show up.

We see it going up...
The signals also say so.

We buy but still know that money can be lost.

If we win we accept and appreciate.

If we lose we learn from any actions or mistakes, take the loss and move on.

Namaste.