Analyst: Bitcoin Weekly MACD Trend Indicates Price May Experience Major Upsurge

BlockBeats News, May 14th - Coindesk analyst Omkar Godbole stated that the Bitcoin weekly MACD histogram has crossed above the zero axis, indicating a strengthening bullish momentum. The emergence of this bullish signal coincided with Bitcoin's bounce from the 50-week Simple Moving Average (SMA), mirroring the trends seen in mid-2024 and early 2023, both of which were followed by significant price increases.

The analyst noted that over the past five years, the MACD has entered the positive zone five times, with only one false signal in March 2022 (circled in the chart), leading to a misjudgment of market direction by the bulls.