.CryptoJelleNL indicates $BTC price super-rare bullish signal
The MACD is considered to be a reliable trendline momentum indicator. It is designed to demonstrated the relationship between two exponential moving averages of an asset's price. Namely, the trendline is calculated by subtracting the 26-period EMA from the 12-period EMA.
A bullish"cross" on MACD on a monthly chart is very rare for Bitcoin . Previously, it was only registered twice: in late 2015 and in June 2019. Both times, this signal was an indicator of an upcoming bullish run. In the 2015-2016 run, the Bitcoin price jumped by 4,000% after this signal occured. In the 2019-2021 run, the price of the orange coin increased by 400%.
In almost no time, it dropped from $31,100 to $29,800 on major spot trading platforms. As such, the first cryptocurrency lost over 4.12% in a few minutes. In total, over $3 million in BTC positions were liquidated in the last hour, and 90% of them were longs. By press time, the price erased losses partially and stabilized over $30,050.
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