Analysis written on the chart. The basic idea is that is diverging with price action. is close to diverging, running flat on average over the same period due to a signal line crossover. Spikes in and price action suggests a “head and shoulders” pattern. If true, then the right “shoulder” could take the price down to the start of this pattern. Looking at the , there is a low area in the same zone. $6235 is chosen based on that area, plus the tail of the lowest hourly candle. This was the start of the pattern.
BTC MASTER CHART Bitcoin / Dollar BITFINEX:BTCUSD DonEben BTC MASTER CHART
View Bitcoin’s two-week moving average convergence divergence (MACD) histogram has turned positive for the first time since early February 2018, signaling a longer-term bearish-to-bullish trend change. While the MACD is a lagging indicator, the historical […]
Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto […]