Convergence

Bull Market

Bitcoin

Divergence

In 2023, Bitcoin (BTC) made a stunning comeback, recovering impressively from the turbulence it faced in the previous year.   
A combination of factors, including improving macroeconomic conditions, rising concerns about inflation, and a shift towards more moderate interest rate hikes, boosted Bitcoin's price and reaffirmed its resilience and appeal as a digital asset.   
On July 3, an essential technical indicator, the Moving Average Convergence Divergence (MACD), turned green on <a href="https://optimisus.com/market/market-news/north-carolina-representatives-propose-adding-bitcoin-and-gold-to-state-treasury/">Bitcoin</a>'s monthly chart, indicating the potential beginning of a bull market for the world's leading cryptocurrency.   
Understanding the MACD and Its Significance for Investors   
The MACD is composed of two lines: the MACD line and the signal line. The MACD line calculates the difference between two moving averages (MA), while the signal line is a smoothed average of the MACD line, providing buy and sell signals when it crosses above or below the MACD line.   
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In the current scenario with Bitcoin, the MACD line crossing above the signal line and turning green suggests a bullish signal or a possible buying opportunity for investors.   
Conversely, when the MACD line crosses below the signal line and turns red, it indicates a bearish signal or a potential selling opportunity.   
Bitcoin Price Analysis   
As of the time of writing, Bitcoin was trading at $30,631, recording a 0.36% increase in the past 24 hours.   
Over the last month, the <a href="https://coinliberal.com/bitcoin-miners-enjoy-big-profits-as-transaction-fees-soar/">cryptocurrency</a> experienced a gain of over 12.8%, driven by the excitement surrounding institutional crypto adoption. Major traditional finance (TradFi) giants filing to launch a spot Bitcoin exchange-traded fund (ETF) contributed to growing institutional confidence, propelling the BTC price above $30,000 for the second time in the year.   
On June 30, prominent crypto market expert Ali Martinez pointed out that Bitcoin is currently trading above a critical demand area. Should it maintain its position in this zone, it has the potential to surge towards $35,000, as there is a lack of resistance ahead. 
The post <a rel="nofollow" href="https://optimisus.com/news/crypto-news/bullish-sign-bitcoins-monthly-macd-indicates-start-of-bull-market/">Bullish Sign: Bitcoin’s Monthly MACD Indicates Start of Bull Market</a> appeared first on <a rel="nofollow" href="https://optimisus.com">Optimisus</a>.

Bullish Sign: Bitcoin’s Monthly MACD Indicates Start of Bull Market

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