Bitcoin MACD Indicator Bullish, Bitcoin Price to Break $70,000?
2024-10-21
Bittime - Bitcoin MACD indicator shows bullish signs for the first time since April 2024.
This indicator signals that Bitcoin is likely to break the $70,000 mark, with the potential for further upside until the end of the year. Read this article to find out more!
Bitcoin MACD Indicator Bullish
In crypto trading, technical indicators are very important to understand price movements. One of the most widely used indicators is Moving Average Convergence Divergence (MACD).
According to TradingView, the indicator Bitcoin MACD on the weekly chart has turned positive, indicating that momentum is returning to the upside. This is the first time since April that the indicator is showing bullish signs.
This is important because Bitcoin has fluctuated between $50,000 to $70,000 in recent months. This positive signal from the MACD indicator strengthens the argument that Bitcoin price may soon break the $70,000 mark.
Read Also: Bitcoin Performance in Q3 Weakened, Still the Best Asset in 2024?
Bitcoin Prices Rise Up to 30% Since Early September
In early September, Bitcoin briefly fell below $53,000. Since then, the price of Bitcoin has experienced quite significant fluctuations.
Until this week, Bitcoin had risen almost 30% from the lowest level. Bitcoin prices even reached $69,500 on the Asian trading session on Monday morning, approaching the psychological threshold of $70,000.
Bitcoin MACD Indicator Bullish, Bitcoin Prices will Rise Until End of the Year?
With the Bitcoin MACD indicator showing a bullish signal, Bitcoin prices are predicted to reach much higher prices by the end of this year.
One factor that strengthens this projection is the expectation that the Federal Reserve The US may start cutting interest rates. Monetary policy typically favors riskier assets like Bitcoin.
Besides that, The weakening Japanese yen also indicates that global investors may be looking for assets that are more stable and have the potential to provide higher returns, such as Bitcoin.
Read Also: Bitcoin Runes Transfer Volume Up 3x from August Low!
How to Buy Crypto di Bittime
Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.
Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!
Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
