BITCOIN Made a MACD Bullish Cross that opens the road to $40k!

Bitcoin (BTCUSD) has completed a Bullish Cross on the 3D time-frame and that helped the price last week to start the short term rise that broke above the 3D MA50 (blue trend-line) for the first time since mid August. The previous 3 MACD Bullish Crosses have all delivered a Higher High within the 11 month Channel Up.

What's also interesting is how firmly the MA100 (green trend-line) held on the September 10 Low. Technically once BTC reclaims the MA50 (i.e. closes a full candle above it), the new bullish wave of the Channel Up will be confirmed. We expect it to test Resistance 2 at 40000, a critical psychological level.

Do you think this MACD Bullish Cross was what BTC needed to kickstart the new rally? Feel free to let us know in the comments section below!

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