A key market indicator shows that the Bitcoin price rally may be losing steam. According to Bloomberg, “Bitcoin’s Moving Average Convergence Divergence indicator has been steadily falling since mid-February.” MACD is a commonly used metric for technical analysis. When it diverges from the symbol, it means that a trend may be over with. Watch out Bitcoin Bears – MACD Isn’t Everything Let’s keep in mind, however, that this is crypto. Old world tools like MACD and EMA only go so far here. Long-term charting suggests that Bitcoin may be overbought, but sellers may nevertheless back away from the market if
The post Bitcoin Price Rally Could be on Last Legs, Bloomberg Analyst Warns appeared first on CCN
source https://www.ccn.com/bitcoin-price-rally-could-be-on-last-legs-bloomberg-analyst-warns
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