26 Dec Analysts Prepare for Bitcoin Price Pump As Technical Signals Strength
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Since Bitcoin (BTC) bounced cleanly off the macro $6,400 support earlier this month, analysts have been wondering if the pain is over for the cryptocurrency market.
According to a number of analysts, the pain is over, or at least nearly over.
Prominent trader Dave the Wave, who called the recent move to the mid-$6,000s months ago, remarked that the one-day Bitcoin chart has printed a series of bullish divergences with the Moving Average Convergence Divergence (MACD), a trend-following indicator used by many technical analysts. These divergences suggest strength is on the horizon for BTC.
MACD bullish divergences…. pic.twitter.com/9PNAoJmBiW
— dave the wave (@davthewave) December 26, 2019
This isn’t the only bullish divergence that has recently been observed by prominent traders.
Scott “The Wolf of All Streets” Melker, BTC’s performance last week has created a very important signal on the weekly chart: a “massive bullish divergence in…
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