{"id":407218,"date":"2019-12-13T17:00:18","date_gmt":"2019-12-13T17:00:18","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=407218"},"modified":"2019-12-13T15:53:26","modified_gmt":"2019-12-13T15:53:26","slug":"monthly-bitcoin-indicator-flips-bearish-but-still-following-path-to-new-ath","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/monthly-bitcoin-indicator-flips-bearish-but-still-following-path-to-new-ath\/","title":{"rendered":"Monthly Bitcoin Indicator Flips Bearish, But Still Following Path to New ATH"},"content":{"rendered":"

In the crypto market, there\u2019s an ongoing bullish bias that constantly permeates the market. However, there\u2019s no denying that the entire market, including Bitcoin<\/a>, has been in a downtrend for the last few months.<\/span><\/p>\n

An important monthly indicator has since flipped bearish, causing the crypto community to panic that Bitcoin\u2019s woes have only just begun, however, one analyst says that the indicator is a lagging one, and that the trajectory toward a new all-time high is still on track.<\/span><\/p>\n

Lagging Indicator Flips Bearish, But Still Following Bitcoin\u2019s Bullish Trajectory<\/span><\/h2>\n
At the beginning of Q1 2019, Bitcoin<\/a> broke out of its bottom accumulation range and went on a parabolic rally. <\/span><\/p>\n
The resulting bullish move and price action, also caused an important technical analysis indicator, the monthly MACD \u2013 the moving average convergence divergence<\/a> indicator \u2013 to flip bullish for the first time since late 2015 and into early 2016 when Bitcoin\u2019s historic bull run first began.<\/span><\/p>\n
Related Reading | Decision Time For Future Of Bitcoin As Crypto Teeters On Bear-Bull Edge\u00a0<\/a><\/strong><\/em><\/p>\n
However, the rally was too strong, too quickly, and Bitcoin<\/a> became over-heated, finally topping out at $14,000 before making an attempt at a new all-time high.<\/span><\/p>\n
After the asset topped out, a downtrend has followed for the past few months. The downtrend, much like the previous uptrend, has caused the monthly MACD to once again flip bearish. However, one prominent crypto trader who focuses on long-term analysis, suggests that the indicator, although it has turned bearish indicating bearish price action and price decline, the indicator is a lagging one and is still on track to reach help push Bitcoin<\/a> price to a new all-time high in the next few years.<\/span><\/p>\n
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Seeing some confusion about the monthly MACD cross<\/p>\n
1] Helps to have a log version of the MACD<\/p>\n
2] Helps if you predicted this cross six months ago<\/p>\n
3] Also helps if you understand that it's a lagging indicator<\/p>\n
4] And last, it's about the cycles… pic.twitter.com\/5sZYYsEgTw<\/a><\/p>\n
— dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) December 13, 2019<\/a><\/p><\/blockquote>\n