The weekly MACD is about to cross, where the fast blue line crosses the slow orange line from above. The last 3 times this has happened, a large correction happened and a bearish longer term trend has been established.
At the moment, the MACD is about to cross. While we're not there yet, a drop of a few percent will most likely cause the lines to cross. Also, remember to wait for the candle close.
If the cross will happen this week, we should be prepared for a longer term trend reversal, potentially even targeting 20k or below. On the other hand, it will be a very bullish indication if the correction remains small.
Do you think we're going to dump? Is the 2023 top in? Share your thoughts below 🙏
I think the bearish rally has come to an end, and if you look at the past two accumulations before the 2017 and 2021 pumps, they each took 2 years. In our case, only 1 year of accumulation has passed since 2022. Another year is needed (already a little less), and next spring also halving. MACD I observe, in addition Cluster Algorithm showed a Bearish Divergence on the same time frame. So some have relaxed and even found already SPRING according to Wyckoff. I contend, such an event is yet to come. In addition, DXY is getting stronger.
In our case, only 1 year of accumulation has passed since 2022. Another year is needed (already a little less), and next spring also halving.
MACD I observe, in addition Cluster Algorithm showed a Bearish Divergence on the same time frame.
So some have relaxed and even found already SPRING according to Wyckoff. I contend, such an event is yet to come.
In addition, DXY is getting stronger.