The MACD line on the chart of Bitcoin is broader than ever. What does it mean?

Previous bullrun gave Bitcoin a huge attention of the public. After a rise in price to 20 thousand dollars of the cryptocurrency suddenly became very interesting to almost every ordinary person. However, the bubble couldn’t inflate forever, and at the beginning of 2018 there has been a rapid collapse of the market. According to the trader under the name dave the wave the worst is over technical indicators on the charts of Bitcoin point to the imminent beginning of a new bullrun.

The bulls are back in fashion

After a rapid jump in the beginning of April, the main cryptocurrency formed a local parabola and was able to get the resistance level of $ 6,000. Investors begin to believe in the dominance of the bulls, so now the majority believes that the new bottom we will not drop.

Bullish dynamics is clearly seen in the MACD line. Recall that the indicator Moving Average Convergence Divergence is used to locate potential trend reversals on the chart of the asset.

Histogram [an enhanced version of MACD] at the moment much more than ever before in previous cycles.

What does it mean?

Previously, the expert claimed that the market “needs consolidation”. However, since these statements it has been several weeks, and dave the wave is ready to accept their point of view is incorrect. Looks like the bulls do a lot of strength to push the price of Bitcoin is much higher.

According to Peter Brandt, a breakthrough parabola almost always ends with a rollback of the asset at 85 percent. Recall his theory with remarkable accuracy helped him to predict the course of the bearish trend of 2018.

Bitcoin has another prerequisite for growth — Monday 13 may to begin the annual conference of Consensus, after which the cryptocurrency is almost always more expensive. To make good money on another pump, listen to the advice of our subscribers cryptodata!

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