This is a daily technical analysis of the Coindesk analyst and rented market technician Omkar Godbole.
An impulse indicator, with a solid prognosis history of the main Bitcoin (BTC) price movements, has turned the recent predictions of an analysts from a rally at $ 150k– $ 200K.
The technical analysis indicator is called the history of the convergence of the mobile average (MACD), which represents the difference between the MACD line and its signal line. The MACD line is calculated by subtracting the exponential mobile (EMA) average of 26 periods (days or weeks) of the 12 periods of the price of an asset. The signal line is an EMA of 9 periods of the MACD line itself.
A positive change in the MACD histogram is interpreted as a transition from the bearish impulse to Alcista and the operators widely consider a purchase signal.
The BTC MacD weekly chart has crossed over zero, indicating a renewed bullish impulse.
The last bullish signal follows the bitcoin rebound of the single mobile average of 50 weeks (SMA), replicating patterns observed in mid -2024 and early 2023. On both occasions, BTC subsequently experienced strong manifestations.
Keep in mind how the MACD turned positive in the second half of October, warning of a large higher movement. BTC broke over $ 70K in early November and finally reached high record in December.
In the last five years, the MACD has crossed in positive territory five times, with only a false sign in March 2022, which caught the bulls (marked by Circle) on the wrong side of the market.
The last signal is consistent with the macro bullish image and the calls of analysts for a rally at higher levels. Earlier this week, Standard Chartered said that institutional adoption and investment minimum could raise bitcoin up to $ 200K.
In a report shared with Coindesk on Tuesday, Bitfinex analysts said BTC is evolving a global asset of the macro reserve and could increase to $ 150K- $ 180K in 2025-26.
