BitcoinLong
Weekly MACD Re-set and About to Re-cross
Updated
Weekly MACD shaping up to re-cross bullishly soon to confirm the continuation of the next cycle. The weekly MACD is the right time frame for analysis of the medium term moves and their relation to the multi year cycle - the daily too short, the monthly too long.
Looking at the monthly MACD, you can see that from a technical perspective, BTC has never been in a 'bear market' with the MACD remaining in positive territory to define the 'bull'. If the weekly MACD is a lagging indicator, the monthly MACD is a very lagging one, and yet useful - it can be seen that the move up was too steep in comparison to the previous cycle, where it was predictable /and was predicted/ that this 'mega-bounce' would correct. This correction though should be considered as a part of a greater cycle that began with the 3K bottom /if cycles are to be measured from the bottom/. The move up started explosively and has predictably corrected 50% of that move to set up a good base going forward along the lines of the log growth curve.
Looking at the monthly MACD, you can see that from a technical perspective, BTC has never been in a 'bear market' with the MACD remaining in positive territory to define the 'bull'. If the weekly MACD is a lagging indicator, the monthly MACD is a very lagging one, and yet useful - it can be seen that the move up was too steep in comparison to the previous cycle, where it was predictable /and was predicted/ that this 'mega-bounce' would correct. This correction though should be considered as a part of a greater cycle that began with the 3K bottom /if cycles are to be measured from the bottom/. The move up started explosively and has predictably corrected 50% of that move to set up a good base going forward along the lines of the log growth curve.
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