{"id":372287,"date":"2019-02-22T01:01:08","date_gmt":"2019-02-22T01:01:08","guid":{"rendered":"https:\/\/wncen.com\/?p=372287"},"modified":"2019-03-11T20:33:55","modified_gmt":"2019-03-11T20:33:55","slug":"crypto-bitcoin-price-btc-macd","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-bitcoin-price-btc-macd\/","title":{"rendered":"Crypto Analyst: Bitcoin Price (BTC) Still In Bull Trend According to MACD, Accumulate During &#8220;Correction&#8221;"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">To call the current bear market a simple \u201ccorrection\u201d is quite a bold statement and one that would be met with counterpoints from numerous scorn crypto investors who bought in at the top of the recent Bitcoin (BTC) bubble. However, according to one crypto analyst, <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a>\u00a0is still in a \u201congoing bull market\u201d and that the leading crypto by market cap is in nothing more than a correction, and that investors should accumulate at current prices.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The analyst also supplies his rationale behind the hypothesis, which is based heavily on the monthly Moving Average Convergence Divergence oscillator (MACD) \u2013 a trend-following momentum indicator that\u2019s used by traders to signal important trend changes.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Crypto Analyst: What Bear Market? Bitcoin\u2019s in a &#8220;Secular Bull&#8221; Market<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Popular cryptocurrency analyst Dave the Wave has been heavily focusing his analysis on the Monthly MACD. His previous analysis suggested that the monthly MACD was signaling the bottom of the current bear market, and even <a href=\"https:\/\/wncen.com\/2019\/02\/07\/crypto-bitcoin-monthly-macd-bottom\/\">correctly called Bitcoin\u2019s recent \u201cbounce\u201d off the 200-week moving average<\/a> \u2013 yet another indicator traders use to predict price fluctuations in various assets.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/2019\/02\/21\/crypto-bear-market-bitcoin-btc\/\">Crypto Analyst Expects Multi-Year Bear Market, Current Bitcoin (BTC) Range Isn\u2019t Accumulation<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">In his most recent charts, the analyst again is looking to the monthly MACD to gain invaluable insight into where we are in the current bear market, to determine when a bottom is in, and when Bitcoin price may rally to new highs once again.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Just to put this &#39;bear market&#39; in perspective &#8211; the MACD on the monthly chart may not even go into bear territory on this correction.\ud83e\uddd0 <a href=\"https:\/\/t.co\/qgVlu1f2UN\" rel=\"nofollow\">pic.twitter.com\/qgVlu1f2UN<\/a><\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/77490944?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 21, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">The analyst\u2019s take on the monthly <a href=\"https:\/\/wncen.com\/tag\/macd\/\">MACD<\/a> is that it has never even reached \u201cbear territory,\u201d by falling below the center line of the chart. During the 2014 to 2015 BTC bear market, the monthly MACD only briefly dipped below the center line and immediately bounced upward, forming a V-shaped bottom on the chart.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">To clarify &#8211; technically something is bullish when the MACD is above the center line, and bearish when below the center line.<\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/91956480?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 21, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">While this could also signal that the current downtrend still has <a href=\"https:\/\/wncen.com\/2019\/02\/21\/crypto-bear-market-bitcoin-btc\/\">much more room to fall into bearish territory<\/a>, Dave the Wave believes that while the momentum itself is \u201cbearish on the monthly,\u201d the MACD \u201cis still in bull territory\u201d and that BTC is simply in a \u201ccorrection.\u201d<\/span><\/p>\n<h2>Crypto Analyst: Bitcoin&#8217;s Bearish Correction Could Be &#8220;Turning&#8221; Back to Bull<\/h2>\n<p class=\"p1\"><span class=\"s1\">He further suggests that the monthly MACD\u2019s histogram could possibly \u201cturn around\u201d and if it does, it \u201ccould very well signify the end of the correction\u201d Bitcoin is currently experiencing. <a href=\"https:\/\/wncen.com\/tag\/dave-the-wave\/\">Dave the Wave<\/a> further explains that the lagging indicator is like a \u201cmassive supertanker\u201d and once the momentum turns, there\u2019s \u201cno stopping it,\u201d it\u2019s all \u201cone way.\u201d<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/2019\/02\/07\/crypto-bitcoin-monthly-macd-bottom\/\">Crypto Analyst Expects Strong Bitcoin Bounce, Monthly MACD Signals Bottom<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">When pressed by his <a href=\"https:\/\/twitter.com\/davthewave\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Twitter<\/a> followers on what his interpretation of the analysis means, he discouraged shorting this \u201ccorrection,\u201d and says that investors \u201cwant to be accumulating\u201d for when the correction ends and the bullish trend we\u2019re currently in resumes.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">That BTC is in a secular bull, that this is just a correction, that you do not want to be shorting it, and that you want to be accumulating.\ud83d\ude42<\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/54201347?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 21, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Of course, he could be wrong about the monthly MACD, and the <a href=\"https:\/\/wncen.com\/2019\/02\/21\/crypto-bear-market-bitcoin-btc\/\">bearish momentum could drag Bitcoin price down further<\/a>. Either way, the monthly MACD is a valuable tool for any traders hoping to profit off of trend changes and could help predict the elusive Bitcoin price bottom.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To call the current bear market a simple \u201ccorrection\u201d is quite a bold statement and one that would be met with counterpoints from numerous scorn crypto investors who bought in at the top of the recent Bitcoin (BTC) bubble. However, according to one crypto analyst, Bitcoin\u00a0is still in a \u201congoing bull market\u201d and that the leading crypto by market cap is in nothing more than a correction, and that investors should accumulate at current prices. The analyst also supplies his rationale behind the hypothesis, which is based heavily on the monthly Moving Average Convergence Divergence oscillator (MACD) \u2013 a trend-following momentum indicator that\u2019s used by traders to signal important trend changes. Crypto Analyst: What Bear Market? Bitcoin\u2019s in a &#8220;Secular Bull&#8221; Market Popular cryptocurrency analyst Dave the Wave has been heavily focusing his analysis on the Monthly MACD. His previous analysis suggested that the monthly MACD was signaling the bottom of the current bear market, and even correctly called Bitcoin\u2019s recent \u201cbounce\u201d off the 200-week moving average \u2013 yet another indicator traders use to predict price fluctuations in various assets. Related Reading |\u00a0Crypto Analyst Expects Multi-Year Bear Market, Current Bitcoin (BTC) Range Isn\u2019t Accumulation In his most recent charts, the analyst again is looking to the monthly MACD to gain invaluable insight into where we are in the current bear market, to determine when a bottom is in, and when Bitcoin price may rally to new highs once again. Just to put this &#39;bear market&#39; in perspective &#8211; the MACD on the monthly chart may not even go into bear territory on this correction.\ud83e\uddd0 pic.twitter.com\/qgVlu1f2UN &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) February 21, 2019 The analyst\u2019s take on the monthly MACD is that it has never even reached \u201cbear territory,\u201d by falling below the center line of the chart. During the 2014 to 2015 BTC bear market, the monthly MACD only briefly dipped below the center line and immediately bounced upward, forming a V-shaped bottom on the chart. To clarify &#8211; technically something is bullish when the MACD is above the center line, and bearish when below the center line. &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) February 21, 2019 While this could also signal that the current downtrend still has much more room to fall into bearish territory, Dave the Wave believes that while the momentum itself is \u201cbearish on the monthly,\u201d the MACD \u201cis still in bull territory\u201d and that BTC is simply in a \u201ccorrection.\u201d Crypto Analyst: Bitcoin&#8217;s Bearish Correction Could Be &#8220;Turning&#8221; Back to Bull He further suggests that the monthly MACD\u2019s histogram could possibly \u201cturn around\u201d and if it does, it \u201ccould very well signify the end of the correction\u201d Bitcoin is currently experiencing. Dave the Wave further explains that the lagging indicator is like a \u201cmassive supertanker\u201d and once the momentum turns, there\u2019s \u201cno stopping it,\u201d it\u2019s all \u201cone way.\u201d Related Reading |\u00a0Crypto Analyst Expects Strong Bitcoin Bounce, Monthly MACD Signals Bottom When pressed by his Twitter followers on what his interpretation of the analysis means, he discouraged shorting this \u201ccorrection,\u201d and says that investors \u201cwant to be accumulating\u201d for when the correction ends and the bullish trend we\u2019re currently in resumes. That BTC is in a secular bull, that this is just a correction, that you do not want to be shorting it, and that you want to be accumulating.\ud83d\ude42 &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) February 21, 2019 Of course, he could be wrong about the monthly MACD, and the bearish momentum could drag Bitcoin price down further. Either way, the monthly MACD is a valuable tool for any traders hoping to profit off of trend changes and could help predict the elusive Bitcoin price bottom.\u00a0<\/p>\n","protected":false},"author":517,"featured_media":372300,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[5687,428,12672,6664,24132,2849],"class_list":["post-372287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bear-market","tag-bitcoin","tag-bull-market","tag-crypto","tag-dave-the-wave","tag-macd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price (BTC) Still In Bull Trend According to MACD, Accumulate During Crypto Correction<\/title>\n<meta name=\"description\" content=\"A prominent crypto analyst beleives that the monthly MACD suggests Bitcoin price might have bearish momentum, but that BTC is still in a bull market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/crypto-bitcoin-price-btc-macd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price (BTC) Still In Bull Trend According to MACD, Accumulate During Crypto Correction\" \/>\n<meta property=\"og:description\" content=\"A prominent crypto analyst beleives that the monthly MACD suggests Bitcoin price might have bearish momentum, but that BTC is still in a bull market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/crypto-bitcoin-price-btc-macd\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-22T01:01:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-11T20:33:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/bitcoin-price-btc-crypto-shutterstock_1063157093.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5614\" \/>\n\t<meta property=\"og:image:height\" content=\"3743\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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