Cryptocurrency trader and enthusiast @davthewave recently argued that an extended period of decreases is just beginning for Bitcoin.
He made his prediction by pointing out a bearish cross in both the weekly and daily MACD.
According to his chart, we could see a price decrease at least to $7000 and possibly lower.
Following his advice, cashing out on Bitcoin and waiting for re-entry at lower prices would currently be the ideal move.
However, it is not the first time that the MACD has acted in a similar manner.
Let’s take a look at the previous times this occurred and see how the price acted then.