{"id":381524,"date":"2019-05-10T00:01:57","date_gmt":"2019-05-10T00:01:57","guid":{"rendered":"https:\/\/wncen.com\/?p=381524"},"modified":"2024-06-11T07:40:22","modified_gmt":"2024-06-11T07:40:22","slug":"crypto-analyst-bitcoin-macd-histogram-more-extended-than-during-previous-bull-cycle","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-macd-histogram-more-extended-than-during-previous-bull-cycle\/","title":{"rendered":"Crypto Analyst: Bitcoin MACD Histogram More Extended Than During Previous Bull Cycle"},"content":{"rendered":"<p>The last crypto bull run brought <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> into the lime light and public eye, and took the price of the digital asset skyrocketing to its all-time high price of $20,000.<\/p>\n<p>Yet somehow, the <a href=\"https:\/\/wncen.com\/2019\/05\/06\/bitcoin-price-btc-rsi-bull\/\">current Bitcoin rally<\/a> has caused the MACD histogram to become extended more so than any time during the previous bear and bull cycle, even during Bitcoin\u2019s much publicized ascent during December 2017 \u2013 prior to the hype bubble pop that led to an over 85% correction.<\/p>\n<h2>Bitcoin MACD Histogram Demonstrates Power of Bulls<\/h2>\n<p>Following the early April rally that <a href=\"https:\/\/wncen.com\/2019\/04\/04\/bitcoin-price-rose-more-in-one-hour-than-last-two-months-combined\/\">propelled the price of Bitcoin upward nearly $1,000 in an hou<\/a>r above resistance at $4,200, the cryptocurrency has once again gone parabolic, and has even <a href=\"https:\/\/wncen.com\/2019\/05\/09\/bitcoin-shrugs-off-the-news-but-faces-epic-resistance-at-6000\/\">reclaimed the $6,000 price level<\/a> \u2013 a price level much of the market believed would prove to be seemingly unbreakable resistance. The same price level served as support throughout most of 2018 before Bitcoin fell through it in November to its eventual bear market bottom.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/05\/08\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/\">Bullish: Crypto Community In Shock Over Recent Bitcoin Price Resilience<\/a><\/strong><\/em><\/p>\n<p>But now that most of the crypto market has concluded that the <a href=\"https:\/\/wncen.com\/2019\/04\/16\/crypto-analyst-bitcoin-price-chart-shows-textbook-bump-and-run-reversal-bottom\/\">bottom is \u201cin\u201d for Bitcoin<\/a>, investors and traders are finally starting to shed their disbelief and thus, bullish momentum has only increased despite the leading cryptocurrency by market cap being well overdue for a pullback or at least health consolidation.<\/p>\n<p>The bullish momentum can clearly be seen in charts depicting Bitcoin\u2019s long-term MACD, the Moving Average Convergence Divergence indicator \u2013 an important trend change indicator used by crypto analysts to detect shifts in momentum.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Histogram [MACD extension above  the smoothed out signal line] is currently more extended than anytime in the previous cycle&#8230;. <a href=\"https:\/\/t.co\/sI80jY8zqa\" rel=\"nofollow\">pic.twitter.com\/sI80jY8zqa<\/a><\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/89372674?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 9, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As prominent long-term chartist <a href=\"https:\/\/twitter.com\/davthewave\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Dave the Wave<\/a> points out, the MACD histogram has reached a point of being more extended than any other point during the last bear and bull market cycle, including the parabolic run in December 2017, where Bitcoin spiked from $10,000 to $20,000.<\/p>\n<h2>Consolidation Expected, Or Will The Rally Retrace When Parabola Breaks?<\/h2>\n<p>The trader concludes that \u201cconsolidation is looming\u201d but has been saying that for weeks now, and is close to abandoning his model as incorrect. He further concludes that either his analysis is either incorrect, or that the current parabola will also be broken much like the December 2017 blow-off top.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Parabola it is. <\/p>\n<p>One way or the other, this will end in tears &#8211; on the inevitable coming back down to earth&#8230; or the demise of my model.\ud83e\uddd0 <a href=\"https:\/\/t.co\/4eeBf8F8eY\" rel=\"nofollow\">pic.twitter.com\/4eeBf8F8eY<\/a><\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/30818048?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 9, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Parabolic breaks, as Peter Brandt has pointed out and successfully used to base price predictions on, <a href=\"https:\/\/wncen.com\/2019\/02\/27\/peter-brandt-bitcoin-price-bottom\/\">typically result in an over 85% decline<\/a> in the asset that saw the parabolic advance. Bitcoin corrected precisely that during the bear market, bringing the price of the cryptocurrency to $3,150.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/05\/03\/bitcoin-price-has-gained-on-average-77-post-consensus-altcoins-161\/\">Bitcoin Price Has Gained On Average 77% Post-Consensus, Altcoins 161%<\/a><\/strong><\/em><\/p>\n<p>While an 85% correction from here is incredibly unlikely, a short pullback and retest of support turned resistance would bring additional confidence to the crypto market, and reignite the next bull run.<\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>The last crypto bull run brought Bitcoin into the lime light and public eye, and took the price of the digital asset skyrocketing to its all-time high price of $20,000. Yet somehow, the current Bitcoin rally has caused the MACD histogram to become extended more so than any time during the previous bear and bull cycle, even during Bitcoin\u2019s much publicized ascent during December 2017 \u2013 prior to the hype bubble pop that led to an over 85% correction. Bitcoin MACD Histogram Demonstrates Power of Bulls Following the early April rally that propelled the price of Bitcoin upward nearly $1,000 in an hour above resistance at $4,200, the cryptocurrency has once again gone parabolic, and has even reclaimed the $6,000 price level \u2013 a price level much of the market believed would prove to be seemingly unbreakable resistance. The same price level served as support throughout most of 2018 before Bitcoin fell through it in November to its eventual bear market bottom. Related Reading | Bullish: Crypto Community In Shock Over Recent Bitcoin Price Resilience But now that most of the crypto market has concluded that the bottom is \u201cin\u201d for Bitcoin, investors and traders are finally starting to shed their disbelief and thus, bullish momentum has only increased despite the leading cryptocurrency by market cap being well overdue for a pullback or at least health consolidation. The bullish momentum can clearly be seen in charts depicting Bitcoin\u2019s long-term MACD, the Moving Average Convergence Divergence indicator \u2013 an important trend change indicator used by crypto analysts to detect shifts in momentum. Histogram [MACD extension above the smoothed out signal line] is currently more extended than anytime in the previous cycle&#8230;. pic.twitter.com\/sI80jY8zqa &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) May 9, 2019 As prominent long-term chartist Dave the Wave points out, the MACD histogram has reached a point of being more extended than any other point during the last bear and bull market cycle, including the parabolic run in December 2017, where Bitcoin spiked from $10,000 to $20,000. Consolidation Expected, Or Will The Rally Retrace When Parabola Breaks? The trader concludes that \u201cconsolidation is looming\u201d but has been saying that for weeks now, and is close to abandoning his model as incorrect. He further concludes that either his analysis is either incorrect, or that the current parabola will also be broken much like the December 2017 blow-off top. Parabola it is. One way or the other, this will end in tears &#8211; on the inevitable coming back down to earth&#8230; or the demise of my model.\ud83e\uddd0 pic.twitter.com\/4eeBf8F8eY &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) May 9, 2019 Parabolic breaks, as Peter Brandt has pointed out and successfully used to base price predictions on, typically result in an over 85% decline in the asset that saw the parabolic advance. Bitcoin corrected precisely that during the bear market, bringing the price of the cryptocurrency to $3,150. Related Reading | Bitcoin Price Has Gained On Average 77% Post-Consensus, Altcoins 161% While an 85% correction from here is incredibly unlikely, a short pullback and retest of support turned resistance would bring additional confidence to the crypto market, and reignite the next bull run. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":380510,"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":[428,26263,24132,2849,38754,4078],"class_list":["post-381524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-crypto-analyst","tag-dave-the-wave","tag-macd","tag-moving-average-convergence-divergence","tag-technical-analysis"],"acf":[],"yoast_head":"\n<title>Crypto Analyst: Bitcoin MACD Histogram More Extended Than During Previous Bull Cycle<\/title>\n<meta name=\"description\" content=\"The last crypto bull run brought Bitcoin into the lime light and public eye, and took the price of the digital asset skyrocketing to its all-time high\" \/>\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-analyst-bitcoin-macd-histogram-more-extended-than-during-previous-bull-cycle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst: Bitcoin MACD Histogram More Extended Than During Previous Bull Cycle\" \/>\n<meta property=\"og:description\" content=\"The last crypto bull run brought Bitcoin into the lime light and public eye, and took the price of the digital asset skyrocketing to its all-time high\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-macd-histogram-more-extended-than-during-previous-bull-cycle\/\" \/>\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=\"2019-05-10T00:01:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:40:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-macd-crypto-analyst-shutterstock_1040259280.jpg?fit=6000%2C4000\" \/>\n\t<meta property=\"og:image:width\" content=\"6000\" \/>\n\t<meta property=\"og:image:height\" content=\"4000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. 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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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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