Signals of renewed bullish momentum for Bitcoin
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According to a report from BlockBeats citing Coindesk analyst 'Omkar Godbole', he noted that the MACD indicator on Bitcoin's weekly chart has crossed above the zero line, which is considered a strong signal for the return of bullish momentum in the market.
What does this mean?
Crossing the zero line in the MACD indicator (which stands for Moving Average Convergence Divergence) means that the moving averages have started to tilt in favor of buyers, providing a positive signal that could push the price upward.