This chart shows Bitcoin’s price action on a weekly timeframe, with a clear emphasis on two major rallies and the MACD (Moving Average Convergence Divergence) indicator below the price chart.
■ Rallies:
There are two highlighted rallies:
● The first rally shows a 168% price increase, where Bitcoin surged by around 46,300 USDT.
● The second potential rally points to an 87% increase, predicting Bitcoin could rise by 59,633 USDT if it breaks above the resistance level (the black line drawn across the chart).
■ MACD Indicator:
● Bullish Crossover: This occurs when the blue line (MACD line) crosses above the orange line (signal line), signalling a potential upward momentum in price.
Historically, this bullish crossover happened before the first rally, leading to the massive price increase.The chart now shows another bullish crossover, suggesting a similar rally might happen soon.
■ Resistance Line:
● The black diagonal line represents resistance, a level Bitcoin needs to break through for the predicted rally to take place.
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