Bitcoin Finally Enters Bullish Phase Based on This Indicator

The Bitcoin monthly MACD has crossed the zero line, signaling a potential entry into a bullish phase, according to recentThis movement has grabbed the attention of investors, enthusiasts, and analysts as the world's premier cryptocurrency, Bitcoin, stands at the cusp of a potential price rally.is a trend-following momentum indicator that showcases the relationship between two moving averages of an asset's price, typically the 12-day and 26-day exponential moving averages.

When the MACD moves above the zero line, it is generally interpreted as a bullish sign, suggesting that the asset's price might see an upward trajectory in the near future. The recent chart depicts that Bitcoin's MACD has now shifted above this crucial threshold. Given Bitcoin's current trading price of $34,400, this would require an impressive 336% rise from its current position.

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