Related – Brian Kelly: Bitcoin ETFs Face Legal Labyrinth to Legitimacy
The MACD indicator has previously proven reliable with bitcoin and signaled the start of new bull markets for the cryptocurrency.
“The bitcoin MACD correctly indicated three major bull trends since the start of the year. In mid-February, where following an unexpectedly bullish congressional hearing BTC rose above the $10,000 mark; at the start of a month-long bull-run in early April; and in mid-July when market euphoria waxed leading up to the first SEC ruling deadline for the CBOE bitcoin ETF,” reports Crypto Briefing.
For more information on the cryptocurrency market, visit the Bitcoin category.