There is a case to be made for a Bitcoin bullish divergence, says analyst Crypto Love. The MACD is putting out a signal that in the past has been a precursor to new all-time highs for the top cryptocurrency.<\/p>\n
In his latest write-up, Crypto Love points to the fact that the Moving Average Convergence Divergence (MACD) has gone from red to blue. He notes that this is no small thing; every time the indicator has made that switch, Bitcoin has followed with a run to uncharted territory. It is, in his view, a telltale sign of a bull market and an indication that any protracted bearishness is behind us.<\/p>\n
The momentum in the market is what\u2019s driving the MACD, he argues, and it has a track record of heralding the start of a new upswing. Those in the know are paying attention, given how the last few times we saw this kind of reversal \u2013 2015, 2019, 2022 \u2013 were followed by some serious price action.<\/p>\n
There is also the matter of Bitcoin\u2019s two-month RSI, which the analyst has flagged as approaching a key crossover. History shows that when those lines meet after being pushed down to almost nothing, it is usually the end of a bear market and the beginning of something more bullish. With the RSI poised to cross, a new leg up may be in the offing.<\/p>\n
Then there is the Fibonacci cycle. As Crypto Love puts it, we are at the point where Bitcoin is at its most undervalued, a situation not seen since 2015, 2019, or 2022. In the past, this has been a prime time for investors to establish long-term positions with a favorable risk-reward profile.<\/p>\n
One thing that stands out from the Crypto Love report is how far below gold Bitcoin has fallen. It\u2019s a rare kind of low, and history shows it can be a precursor to some serious upside; for instance, the last time we saw this, it was followed by a 660% run-up. That kind of track record gives the present situation some weight.<\/p>\n
Put together with what the MACD, RSI, and past cycles are indicating, the case for a big move is hard to ignore. The analyst even put a number on it: a potential six- or seven-fold gain from where we are now. Of course, there are no sure things in this market, but for those looking for the next bull run, these are the signs to be optimistic about.<\/p>\n
Source \u2014 Crypto Love: https:\/\/www.youtube.com\/watch?v=BN_pD_xKCC8<\/a><\/em><\/p>\n <\/p>\n Sharpen your trading skills and test bullish strategies risk-free using our crypto trading simulator. Practice with a trading simulator<\/a>.<\/p>\n <\/p>\n