A key indicator for a bitcoin bull rally could flash green for the first time since 2015. | Source: Shutterstock
By CCN Markets: According to technical analyst Eric Thies, a key technical indicator may signal strong long-term momentum for bitcoin for the first time since 2015.
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Key technical indicator for bitcoin about to signal an upside movement (source: King Thies)
The last time the 1-month moving average convergence divergence (MACD) achieved a signal cross, the bitcoin price increased from $400 to ultimately $20,000 within a three-year span. As the bitcoin price spiked from $3,900 to $8,000 in less than three months by outperforming most assets and every major stock index, technical analysts generally anticipated a large pullback to hit the market.