In a bull market, there is a general rule that weekly-level pullbacks usually do not effectively fall below the zero axis of MACD. Taking the historical pullback of Bitcoin ($BTC) as an example, the pullbacks in each round of bull market have never fallen below this key zero axis.
However, in this round of market, Ethereum ($ETH) broke this routine, and its price fell below the zero axis of MACD, which marked the failure of the defense of the key support position.
Nevertheless, the position and range of the breakout often form an attractive rebound area, providing a relatively high trading cost-effectiveness. For example, at this point in time, it is very likely that a one-hour long opportunity will soon appear.
