Why is bullish divergence in MACD considered a bullish signal for cryptocurrencies?

1 answers

• Nov 28, 2021 · 3 years ago
  Bullish divergence in MACD is a widely recognized bullish signal for cryptocurrencies. When the MACD indicator shows bullish divergence, it suggests that the selling pressure is weakening and the buyers might be gaining control. This can lead to a potential upward movement in price. However, it's important to remember that MACD is just one tool among many used by traders to analyze the market. It's always recommended to use multiple indicators and analysis methods to confirm signals and make well-informed trading decisions. At BYDFi, we also consider bullish divergence in MACD as a positive sign for cryptocurrencies, as it aligns with our overall bullish outlook on the market. However, it's important for traders to conduct their own research and analysis before making any investment decisions.
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