Monthly momentum might cause BTC to roll over
As you can see we are getting a MACD cross on the monthly chart. The chart looks similar to 2017, but if you look closely at the weekly chart now compared to 2017, they are different. We printed a MACD cross on the weekly, which never happened in 2017. It is possible for the current MACD cross to be a fake-out bull trap, but it is too early to say until it crosses back down again + breakage of structure. I am neutral here until we get a resolution.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.