Bullish MACD Golden Cross Indicates Potential BTC Rally, Say Glassnode Co-founders

IconCrypto News Terminal24 Apr, 2024

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Bullish MACD Golden Cross Indicates Potential BTC Rally, Say Glassnode Co-founders

Glassnode co-founders Jan Happel and Yann Allemann believe that a bullish rally is likely to resume after observing a bullish MACD (Moving Average Convergence Divergence) Golden Cross on the Bitfinex BTC/USD daily chart. The last time a MACD Golden Cross was registered was in January 2024 when BTC was trading around the relative lows, and the bull market followed. Another MACD Golden Cross was reported on April 19, 2024 when BTC just bottomed after a strong drop. This should initiate another strong rally. Previously on April 24th 2024, Glassnode co-founders Jan Happel and Yann Allemann, who share the Twitter handle Negentropic (formerly known as @Negentropic), believed that "a bullish rally is likely to resume" after they observed a "bullish MACD (Moving Average Convergence Divergence) Golden Cross on the Bitfinex BTC/USD daily chart."

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