Bitcoin’s price drop over the last week may have disappointed many Bitcoin enthusiasts, but it hasn’t stopped the bullish predictions for the leading cryptocurrency. Crypto experts continue to propose theories as to why and how BTC could be set for a new bullish trajectory in the near future.
A prominent crypto trader, analyst and investor who goes by the pseudonym Mags uses X (formerly Twitter), to predict the latest Bitcoin price.
Can this Bitcoin price history repeat itself?
Mags published his analysis on Sunday, Oct. 15, via a post to X. This suggested that a price rally was imminent for the world’s leading cryptocurrency. The crypto analyst’s BTC price prediction revolves around the Moving Average Convergence Divergence (MACD) technical indicator.
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According to the chart highlighted in the post, Bitcoin’s MACD has undergone a bullish cross from below the zero line. And based on Mags’ analysis, this is the second time this will happen on the Bitcoin price chart.
The MACD crossed bullish for the first time in 2016. This cross, as shown in the chart highlighted above, triggered a bullish move…