This is a daily technical analysis of the Coindesk analyst and technician of the approved market Omkar Godbole.
An indicator of Momentum, with a solid experience in forecasting Bitcoin Price Movements (BTC), overthrew recent optimistic and strengthened forecasts of analysts from a rally at $ 150,000 to $ 200,000.
The technical analysis indicator is called the Histogram of Divergence of Mobile Average Convergence (MacD), which represents the difference between the MacD line and its signal line. The MacD line is calculated by subtracting the exponential mobile average of 26 periods (EMA) from the EMA of 12 periods of the price of an asset. The signal line is an EMA at 9 periods from the MacD line itself.
A positive change in the MacD histogram is interpreted as a transition from the downward dynamics to the optimistic momentum and is widely considered as a purchase signal by traders.
The weekly graph of the BTC MacD met above zero, indicating a renewed bullish momentum.
The latest Haussier signal follows Bitcoin rebound from the 50-week simple mobile average (SMA), the replication models observed in mid-2010 and early 2023. On occasion, BTC then experienced strong gatherings.
Note how the MacD overturned positive in the second half of October, warning of a large higher movement. BTC exceeded $ 70,000 in early November and finally reached a record in December.
Over the past five years, the MACD has turned into a positive territory five times, with a single false signal in March 2022, which trapped the bulls (marked by a circle) on the bad side of the market.
The latest signal is consistent with the macro bullish image and the calls of analysts for a rally at higher levels. At the beginning of this week, Standard Charterd said that institutional adoption and investment stockings could increase Bitcoin up to $ 200,000.
In a shared report with Coindesk on Tuesday, Bitfinex analysts said BTC was playing in a world macro reserve asset and could reach $ 150,000 at $ 180,000 in 2025-2026.
