【BiTu】Bitcoin’s recent trend has been a bit dull, but there are many bullish signs hidden beneath the surface.
On the technical side, the MACD histogram is about to turn green again, which usually indicates a shift in momentum. At the same time, the US Dollar Index (DXY) has fallen to 98.36, suggesting a potential market trend adjustment. Putting these two signals together, it seems to be brewing favorable conditions for Bitcoin.
If Bitcoin successfully breaks through the current downtrend line and truly turns around, the technical target could be in the range of $97,000 to $108,000. But there’s an “if”—if it falls below the recently formed small ascending channel, caution is advised, as it might retest the $80,000 support level.
It’s important to note that ETF capital inflows are still weak, which could limit the price upside. So both opportunities and risks are present, and it depends on who can adapt to the market rhythm faster.
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RugpullSurvivor
· 12-12 07:57
What happens if MACD turns green again? ETF funds are still dead; it seems like just another false alarm.
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GateUser-9f682d4c
· 12-12 07:43
Is the MACD about to turn green? Then we have to wait and see. A weak dollar is a good thing, but the weak ETF funds are a bit annoying.
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LeverageAddict
· 12-12 07:35
99k not breaking is just playing dirty; ETF can't even support that amount of money.
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FrogInTheWell
· 12-12 07:31
Wait, can MACD turn green and then take off? Feels like it's always said like that...
Where did all the ETF funds go? That's the real issue.
80,000 is the lower limit, I believe in this.
Bitcoin technicals warming up? MACD approaches turning green, dollar weakens, giving bulls an opportunity
【BiTu】Bitcoin’s recent trend has been a bit dull, but there are many bullish signs hidden beneath the surface.
On the technical side, the MACD histogram is about to turn green again, which usually indicates a shift in momentum. At the same time, the US Dollar Index (DXY) has fallen to 98.36, suggesting a potential market trend adjustment. Putting these two signals together, it seems to be brewing favorable conditions for Bitcoin.
If Bitcoin successfully breaks through the current downtrend line and truly turns around, the technical target could be in the range of $97,000 to $108,000. But there’s an “if”—if it falls below the recently formed small ascending channel, caution is advised, as it might retest the $80,000 support level.
It’s important to note that ETF capital inflows are still weak, which could limit the price upside. So both opportunities and risks are present, and it depends on who can adapt to the market rhythm faster.