As Bitcoin (BTC) experiences a minor correction, trading below the critical $66,000 support level after several unsuccessful attempts to breach the $70,000 mark, analysts observe significant technical indicators that may signal future price recoveries. Notably, BTC’s weekly Moving Average Convergence Divergence (MACD) has turned bullish for the first time since October 2023. This shift in the MACD parallels previous market behavior, particularly the substantial rally in the 2021 bull market. Current Bitcoin Trends Echo 2021 Rally, New ATH Possible Crypto analyst CryptoBullet has pointed out that the last time the MACD signaled a bullish trend, BTC was trading between $20,000 and $25,000 in 2023, which preceded a significant price spike to a new all-time high of $73,700 in back in March of this year. This context raises the possibility of significant gains ahead for the leading crypto as the market begins to show signs of recovery from previous consolidation periods over the past few months. Related Reading: Solana Stays Strong Despite BTC Drop – $176 Next? In a recent analysis shared on the social media platform X (formerly Twitter), CryptoBullet also noted the similarities between the cu ..
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