• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Bull Cross That Last Sent Prices Up 74% Appears Again

Yashu Gola by Yashu Gola
2 years ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

A textbook bullish indicator whose last appearance in mid-February contributed to Bitcoin’s price rise to its record high has flashed again.

Dubbed as MACD Bull Cross, the signal develops when the output of the difference between an asset’s 26-period and 12-period exponential coverage surges above its 9-period exponential moving average known as a signal line. Traders interpret the crossover as a sign of the asset’s potential price rise.

Bitcoin confirmed the MACD Bull Cross on its one-day timeframe this Tuesday. Market analytics portal TradingShot highlighted the crossover’s ability to extend the cryptocurrency’s bullish bias, citing its last formation that led the BTC/USD exchange rate up by 74 percent. It added that the pair could surge to $65,000 should the fractal play out as intended.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin is eyeing an extended upside move towards $65,000, as per TradingShot. Source: BTCUSD on TradingView.com

The record-high target came after forming a confluence between the MACD Bull Cross and a Fibonacci Retracement graph. As shown in the chart above, the Fib retracement is formed from a swing high level to a swing low level, which creates a set of upside and downside targets alongside.

In February, the MACD Bull Cross formation followed up with a breakout move above the 0.5 Fibonacci retracement line. The upside move grew until it reached the 2.23 Fib line. BTC/USD pulled back after that, treating the 1 Fibonacci retracement line as its sessional bottom.

Entering March, Bitcoin had broken above the 0.5 Fib level and is now eyeing an extended upside run. With the Bull Cross support, TradingSpot expects the cryptocurrency to—at least—hit the 1.5 Fib line, which coincides with the $65,000-resistance level.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Meanwhile, the 2.23 Fib level this time sits above $70,000.

Bitcoin Trade Setup

The BTC/USD exchange rate is parallelly breaking out of its Bullish Flag pattern. The structure represents the recent decline in the pair’s bid, confirmed by a descending channel. Meanwhile, a breakout above the channel’s resistance prompts the price to rise by as much as the uptrend’s height formed before the Flag.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin expects to rise above $60,000 on Bullish Flag breakout. Source: BTCUSD on TradingView.com

That roughly puts BTC/USD en route to $70,000. Meanwhile, the levels represented by the Pitchfork pattern provided potential pullback and rebound levels as the price continues its uptrend. The next target is above the previous record high of $58,367.

Tags: bitcoinbtcusdBTCUSDTcryptocurrency
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Bitcoin

Bitcoin Small Addresses Have Been Rapidly Growing, Here’s What It Means

11 hours ago
Bitcoin Network

Craig Wright Wants His $2.5 Billion, Demanding For a Bitcoin Hard Fork

3 days ago
Bitcoin

Don’t Get Too Greedy On Bitcoin, Analyst Suggests, Here’s Why

3 days ago
bitcoin price bear

Will Bitcoin Price Return To $20,000? Here’s What Investors Expect

3 days ago
Bitcoin

Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021

5 days ago
Bitcoin crypto liquidations

Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

5 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Rich Dad, Poor Dad Author Invests In Crypto. Here’s Why He’d Consider Snowfall Protocol (SNW) and Decentraland (MANA), In Addition to Bitcoin (BTC)

February 7, 2023

OptionBlitz Leverages Ethereum Layer 2 Protocol Arbitrum to Pioneer Zero-Day Options & Social Trading Platform

February 7, 2023

Undercity Is Creating the World’s First Real-World Gaming Village: How to Buy UND Tokens and Get Involved

February 7, 2023

Aptos (APT) Could Be the Next Crypto to Explode in 2023, But Some Experts Think It Could Be Orbeon Protocol (ORBN)

February 7, 2023

Is January 2023 A Good Time To Buy Bitcoin?

February 7, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.