Why is no one talking about this?
>MACD is forming an overbought crossover
Why is no one talking about this?
Parker Parker
Ryder Lopez
what mean
Noah Diaz
>faggot candles
>Coinbase
>1month chart
>MACD overbought crossover
kys
Tyler Gomez
macd is a lagging indicator
James Martin
It basically means Bitcoin is not done plummeting and it could go down even more. 6k isn't the bottom, it's the beginning.
Ethan James
cause it's useless
MACD just illustrates the relation between short term price action vs longer term price action. In this case BTC is performing much worse than it does in longer time frames, MACD crossing down is usually the beginning of more selling. It's kind of retarded to look at the monthly MACD on an instrument as volatile as BTC, but it's a bearish signal if you really care
Carson Morales
Because that appears to be a multi-monthly MACD line of that is in fact a MACD line and that timeframe is ridiculously absurd to the point that no one, no single fucking braindead moron cleaning shit out of the retarded school for the deaf orphan kids pool would even consider for a moment in their shit permeated tainted brain cell to look at a MACD at that time frame.
Dominic Hughes
Nah 4.2k low screen cap this. MAYBE another plummet in the next few months.
Robert Ortiz
>FaGgOt CaNdLeS
>CoInBaSe
>OnE MoNtH ChArT
>MaCd oVeRbOuGhT cRoSsOvEr
Jose Nelson
We gonna get just'd even more !!!
How ironic !
Josiah Roberts
Because due to U.S law bitcoin futures cant go below $100 billion meaning $5800 bitcoin is as low as it can go.lol
Michael Adams
It might seem as if things are climbing up now, but i only see this progression lasting until about 7.8K. This is because we are generally following a downward channel. All and all the order currently is 7.8k Then downwards to 4.8K Back up to 11k then return to mean at 1.2K
Mason Taylor
>not using spreads
opinion discarded
Logan Davis
>he's using MACD on monthly timeframe
Hunter Murphy
Zoom out dude
John James
>It's kind of retarded to look at the monthly MACD on an instrument as volatile as BTC
No it's not. On the contrary it is much easier to see where the price is going on time frames longer than +4hr because you are much less likely to get rekt by whales. There was an overbought crossover on 1day charts during December 2017 when everyone on Jow Forums and Youtube was saying BTC was going to hit to 25k. There was an oversold crossover during the April bullrun... and it was a couple of days before the pump. Seeing longer term charts is crucial to know where the price will be heading in a few years and it appears BTC is still not done plummenting.
There have been times where RSI and MACD levels have been showing overbought crossovers on 3 min-1 hr charts and yet the price plummented because as you said BTC is volatile. Seeing how MACD levels are tells us where bitcoin will head long term. MACD can't keep going up forever. There's a limit and it's already hit it.
>I don't know what I am talking about therefore I am going to resort to incoherent babbling
William Phillips
Here is what I am referring to
Ethan Green
bitch please
Justin Thompson
Because ta is just a meme in crypto and we’re going back to 20-29k by December so no one cares about you dumb bears
Jaxon Reyes
and a facebook normie lettering meme to top it off? epic bro.
Elijah Wood
>Mfw he actually thinks a would be tiny oversold crossover on 1week is an indicator that we are close to a bullrun
Please don't post TAs again.
>TA is a meme but pulling prices out of thin air is much more reliable
Joshua Gray
It's going to bottom out at 5k in September and then climb to all time high.
Eli Foster
...
Brody Miller
>overbought macd crossover
kek user, you a funny guy
Austin Murphy
>probably going to bounce and go higher than 2500 on MACD
>Implying Bitcoin won't go below 30 on RSI
Cmon user you can do better than that
Kevin Torres
kek user, my sides pls
i didn't say it was going higher than 2500 on MAC's d. Nor did I say it wouldn't go below 30 RSI. It might, someday. But not after itself bounces because it's currently at it's lowest point SINCE the 2015-2017 bull run started. Please don't put words in my mouth. I just said it's going to bounce. Because it will. Watch.
Gabriel Clark
Oh yeah by the way checked the 1 week charts.
It formed a descending triangle. Rule of thumb is that the price would rise up before hitting third of the triangle. We would be sitting around 10k around this point today if crypto was truly in a slow bullrun. Currently it is going down even more and volume is not looking good. Rule of thumb is that volume should also be high if it were to break the triangle as well. Bollinger bands are indicating a price dip. Therefore the market for BTC is done for now.
Andrew Brooks
Low volume here indicates price is bottoming out, which it is, in preparation for bull reversal, which it is
Xavier Martinez
>it's currently at it's lowest point SINCE the 2015-2017
Yes but you have to remember that it was before the speculation bubble we saw in December. Currently Bitcoin has a bad rep for being a "ponzi scheme that everyone lost money to". I do not deny that major institutions and investors will eventually pump the price, but they are going to wait for a much lower price before buying up again. BTC mooing at it's current situation seems unlikely. We will most likely see tiny bull runs like the one in April while BTC slowly bleeds for 2019. I heard that we are due for a bullrun in the winter of 2019 but who knows.
>Low volume here indicates price is bottoming out, which it is, in preparation for bull reversal,
Or it's indicating bitcoin will be in a sideways market while slowly bleeding for the next few months.