#crypto #bitcoin cautious buy potential here's why Y/N
Have just analysed three sections since Decemebr 2017 high when Signal line was below zero (brown histogram) and have marked them out in three zones in the chart above A,B,C.
I’ve extended the third zone to end of July but don’t really know when Signal line will cross over into positive territory again.
Here’s what has made me think different.
Previously in downturns where the Signal line (brown histogram) has resumed a downturn together with the MACD (blue histogram) the MACD went negative after the Signal line.
On this occasion the MACD went negative before the Signal line which leads me to believe this time the market is headed up to higher highs.
Also when the Signal, Histogram, and MACD did the above business most recently all the days were green candles whereas before they were red.
Price is holding above the green trend line which is also a positive. The market previously also crossed a red downtrend line.
If the green trend line can hold, and the market not close below $6,250, I am now cautiously bullish (Long).
Breaking my research down into three zones A, B, C using the signal line (brown histogram) is what made me cautiously change my view from bear to bull.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.