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Chart With Historical Precedence Signaling Bitcoin Rallies, According to Top Crypto Analyst

According to a well-known crypto analyst, Bitcoin's monthly moving average convergence divergence (MACD) indicator is showing signs of long-term bullishness, indicating that the top cryptocurrency is on the road to recovery.

The analyst, known as Dave the Wave, believes that the MACD has been an accurate BTC indicator in the past and that its current bullishness adds weight to the metric's suggestion of a recovery in price.

Dave the Wave also notes a brief hiatus in the weekly BTC MACD after a solid move up. At the time of writing, Bitcoin is trading at $31,017, up 1.3% in the past 24 hours and nearly 14% in the past month.

Bitcoin Bitcoin $98,792.69
+0.39%
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