Bitcoin hasn’t done over the past few months. Since peaking near $14,000 in June of this year, the price of the leading cryptocurrency has fallen off by 50%, tumbling under the pressure of an overextended market and bulls taking profit.<\/p>\n
For some reason or another, there are analysts that expect this pain to persist, citing an array of technical and fundamental factors \u2014 like the existence of the PlusToken scam dumping BTC and ETH on the open market<\/a> \u2014 some are starting to conclude that it is only a matter of time before Bitcoin reverts to a bull phase.<\/p>\n According to prominent cryptocurrency chartist Dave the Wave,<\/a> Bitcoin’s one-week Moving Average Convergence Divergence (MACD) \u2014 the MACD is a lagging trend indicator used by many technical analysts \u2014 is likely going to see a crossover early next year after trending lower for the next two months:<\/p>\n “Weekly MACD shaping up to re-cross bullishly soon to confirm the continuation of the next cycle,” the popular trader wrote.<\/p><\/blockquote>\n Bullish MACD readings on Bitcoin’s one-week chart marked the start of previous bull runs, including the miniaturized one seen from March of this year to July.<\/p>\n Weekly MACD shaping up to re-cross bullishly soon to confirm the continuation of the next cycle. <\/p>\n Believe it or not, if the cycle is to be measured peak to peak, we may be near half way through the next cycle already. pic.twitter.com\/7lSBthYqPt<\/a><\/p>\n — dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) December 23, 2019<\/a><\/p><\/blockquote>\nRelated Reading: CME Futures Data: Institutions Still Wary Despite Bitcoin\u2019s Bullish Signs<\/a><\/h6>\n
Bitcoin Ready to Roar<\/strong><\/h2>\n
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