Bitcoin posts its first bullish 13/34-week EMA signal in 3.5 years

what happened

Seeking Alpha reports that Bitcoin’s 13-week exponential moving average has moved above the 34-week measure for the first time in three and a half years. The weekly chart shared by Raymond James’ David Cox labels the event bullish and also shows an earlier bearish signal involving the same two averages.

The MACD histogram uses 12-, 26-, and 9-period settings and stood at 2,349 in its latest reading. The chart highlights a three-week advance in the histogram, along with a separate seven-week upward streak. Bitcoin was down 1.06% at $82,810.33 when the item was written. Seeking Alpha says its content is for informational purposes only and that it does not provide personal investment advice or operate as a licensed securities dealer, broker, US investment adviser or investment bank.

why it matters

For crypto markets, the crossover provides a technical indication that the relationship between longer-term averages has improved. Bitcoin’s decline at the time of writing and the MACD reading provide the immediate market backdrop for that signal.

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