Summary
- It was stated that the weekly chart MACD histogram for Bitcoin (BTC) turned positive.
- It was mentioned that the Bollinger Band spread is widening again, which may lead to increased price volatility.
- It was analyzed that the positive crossover in the MACD tends to occur just before a strong upward market, indicating an expected Bitcoin price rise.
Considering the MACD (Moving Average Convergence Divergence) indicator, there is an analysis suggesting a potential rise in Bitcoin (BTC).
On the 16th (local time), Omkar Godbole, an analyst at CoinDesk, stated, "The weekly chart MACD histogram for Bitcoin has turned positive," and added, "As a result, the Bollinger Band spread is widening again, and price volatility may increase." He continued, "The positive crossover in MACD tends to occur right before a strong upward market," and analyzed that "Bitcoin’s price is expected to rise."
As of 4:06 PM, Bitcoin is trading at $106,705 on the Binance USDT market, up 1.20% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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