• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Crucial Weekly Bitcoin Momentum Indicator Opens Red For First Time Since April

Tony Spilotro by Tony Spilotro
4 months ago
in Bitcoin, Cryptocurrency news, Technical analysis
Reading Time: 3min read
Crucial Weekly Bitcoin Momentum Indicator Opens Red For First Time Since April

illustration of 3d image of light coming out open door

Advertisement
Listen to Article

Across crypto Twitter, analysts claim that Bitcoin price just had an extremely bullish close, but a crucial momentum measuring indicator says otherwise.

In fact, the tool just flipped bearish for the first time on weekly timeframes since April 2020, right after the Black Thursday rebound and pre-halving rally.

Bitcoin Weekly MACD Opens Bearish For First Time Since Black Thursday

The leading cryptocurrency by market cap closed above $10,750 last night, ending an otherwise bearish week on a high note.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bulls have held on after successfully defending below $10,000 seven consecutive days before trying for higher, but have failed to set a higher high.

While things aren’t as bullish as they once were, they haven’t yet flipped bearish – until now.

bitcoin btcusd weekly macd bearish 1

BTCUSD Weekly MACD Bearish Flip First Time Since April 2020 | Source: TradingView

The weekly MACD turning bearish on Bitcoin and top crypto assets like Chainlink were uncrossed ahead of the Sunday night weekly close, but it couldn’t stop the new weekly from opening in the red for the first time since April.

Related Reading | Break of “Market Structure” Puts Bitcoin Uptrend On Thin Ice

Although bulls were able to close the week out green, a red open could be starting a bearish trend.

Past instances of a weekly MACD flipping red on the histogram have resulted in on average 124 days out of four different occurrences. However, things are likely not as bullish as this data would suggest.

bitcoin btcusd weekly macd bearish 3

BTCUSD Weekly MACD Bearish Crossover Past Bear Market Results | Source: TradingView

Why Flipping Bearish This Time Around May Yield Unexpectedly Bullish Results

Flipping bearish on the MACD often results in extended downside, and it is impossible to rule that out currently with the first weekly red open since April 2020. After such a long uptrend with limited pullbacks, a deeper correction is very possible.

But flipping bearish on the weekly MACD doesn’t always yield bearish results. In the example below, just before the 2017 bull run kicked into high gear, the leading cryptocurrency by market cap flipped bearish for just one tick on the histogram.

BTCUSD Weekly MACD Bearish Flip First Time Since April 2020 | Source: TradingView

The MACD is a momentum measuring tool, and flipping back bullish signaled just how strong bulls had become, and that was it for the bear market. And while that’s very possible this time around, another scenario is possible.

While the above chart does show a short-lived bearish blip followed by a long run of green upside on the MACD, that might not be where Bitcoin price is at currently in its market cycle.

Related Reading | Bitcoin Descending Triangle Hints At Third Downtrend Before Bear Market Finish

Comparing the last market cycle – the most significant sample to go off of – suggests that instead of being at point B, where Bitcoin broke up into a full bull market, the crypto asset could be at point A.

bitcoin btcusd weekly macd bearish 3

BTCUSD Weekly MACD Bearish Flip First Time Since April 2020 | Source: TradingView

Point A was also a bearish MACD flip on weely timeframes but resulted in every little downside. Instead, Bitcoin price traded mostly sideways and upward for the next over 200 days.

Although another 200 days of sideways won’t be bearish on Bitcoin, it could be painful for any crypto investors expecting $100,000 or more price levels as proposed by the stock-to-flow model.

The final bear flip, however, ended the bear market for good and sent the cryptocurrency from under $1,000 to $20,000. With Bitcoin at $10,000 now, another similar rise would take the asset to $200,000 per BTC.

Featured image from Deposit Photos, Charts from TradingView
Tags: bitcoinbtcbtcusdbtcusdcBTCUSDTcryptoxbtxbtusd
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

Ethereum

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

2 hours ago
bitcoin bear trend adx

Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020

3 hours ago
Bitcoin

Bitcoin Tests a Critical Resistance Following Overnight Rebound; What’s Next?

7 hours ago
Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

10 hours ago
Polkadot (DOT)

Charted: Polkadot (DOT) Holding Gains Despite Sharp Drop in BTC and ETH

15 hours ago
Ethereum

TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250

17 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


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.

COMPANY

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

Technical Analysis

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

LINKS

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 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.