Bitcoin (BTC) is About to See This Extremely Bullish Technical Event

Bitcoin to See Paramount Technical Event

Bitcoin (BTC) has always been cyclical. Throughout its ten years as a tradable asset, investors have found that the asset follows mostly clear-cut patterns and cycles, marked by time and certain technical indicators.

As spotted by Filb Filb, a prominent cryptocurrency analyst who believes BTC reaching $100,000 and beyond is possible, the Moving Average Convergence Divergence (MACD) on Bitcoin’s one-month chart is about to experience an extremely bullish crossover. More specifically, the indicator, meant to observe overarching trends, is about to see its third monthly bullish cross in Bitcoin’s history.

The last time that this was seen was when BTC embarked on its bull run from the low triple digits ($300) to $20,000. While short-term MACD readings often are susceptible to so-called “fake outs” (fake breakouts), the one-month MACD is a solid indicator for long-term price action. It is important to note that the MACD has yet to cross into the green, but should if Bitcoin manages to close June strong, maybe above $9,500 or so.