Add as a preferred source on GoogleJosh Taylor Calls Bitcoin Weekly MACD Bearish Ahead of Sunday Close
Taylor described a bearish cross as the weekly candle remains open. Earlier crossovers occurred with Bitcoin closes ranging from $59,577 to $73,820.
7th Key Financial founder and lead contributor Josh Taylor described Bitcoin (BTC)’s weekly MACD as rolling over with a bearish cross, putting focus on a provisional signal ahead of Sunday’s weekly close.
Taylor wrote, “Weekly MACD rolling over with Bear Cross (Bearish).” The histogram shows the distance between the MACD line and its signal line; when it is negative, the MACD line trails its signal line, even if the MACD line remains above zero. Daily and weekly readings can diverge.
Earlier weekly crossovers occurred at different Bitcoin closing prices. The MACD crossed above its signal line April 19 as BTC closed at $73,820, moved below it June 28 with a $59,577 close, then crossed above again July 26 as BTC closed at $65,400. The current weekly candle closes Sunday.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.