Traders generally buy the Bitcoin (BTC) when the MACD crosses above its signal line (orange line) and Sell, or short, the Bitcoin (BTC) when the MACD (blue line) crosses below the signal line (orange line). Now, see the graph again...

My point being, BTC is trying to break the resistance and break ATH but the retail investors are not in yet (will speak more about this in another post) but for now, since next halving is estimated to take place on April 19th, 2024...roughly 49 days from now, it is too early for ATH to be materialized (unless BTC is actually meant to go up to $150K)

My theory (based on the MACD and 350DMA) is that the BTC sellout is about to begin, especially since the BTC Greed Index is also very high (80+).

What would happen next? If it tanks, it may well fall to $54,478. Only if it can break the ATH of $69,045, it would then rise to $73 or $75K but that seems too odd a scenario. It seems that the sellout is about to begin in the coming hours/days. Stay vigilant.

Graph Credits: https://lnkd.in/gvQGf_cb

#BTC #cryptocurrency #fintech