Bitcoin's Weekly MACD Histogram Signals Renewed Bullish Momentum

According to BlockBeats, Coindesk analyst Omkar Godbole has noted that Bitcoin's weekly MACD histogram has crossed the zero line, indicating a resurgence in bullish momentum. This bullish signal coincides with Bitcoin's rebound from the 50-week simple moving average (SMA), mirroring similar movements observed in mid-2024 and early 2023, which were followed by significant price increases. The analyst highlighted that over the past five years, the MACD has entered the positive zone five times, with only one false signal occurring in March 2022, which led to a misjudgment of the market direction by bullish traders.