RATE Group | Bullish Cross on Daily MACD Points to $12K Bitcoin in November
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Bullish Cross on Daily MACD Points to $12K Bitcoin in November

11 Oct Bullish Cross on Daily MACD Points to $12K Bitcoin in November

Posted at 23:49h in Bitcoin News by

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Following a continued downtrend and recent lows around $7,700 being defended by bulls, Bitcoin price is currently trading at $8,300 after a surge to $8,800 overnight last night was rejected with force by bears.

However, according to a bullish crossover on the already oversold daily MACD, Bitcoin price could be targeting the previous high of $12,000 as early as November if bulls can build on the momentum that is mounting.

Daily MACD Signals Bullish Momentum is Building

Bitcoin price has been struggling to find support and regain the bullish momentum it had throughout 2019. But an important momentum indicator, may be suggesting that bulls are building momentum at the current price range, and could push the price of the leading crypto asset by market cap higher.

Related Reading | Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs 

According to a prominent crypto analyst, the daily MACD – the moving average convergence divergence indicator – has recently…

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