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Bitcoin Signals Bullish Shift as Moving Averages Cross for First Time in 3.5 Years

BullishMedium impact
BTCUSD$82,635.16 −1.25%

Bitcoin (BITSTAMP:BTCUSD) recorded a technical milestone as its 13-week exponential moving average crossed above its 34-week moving average. The event represents the first bullish crossover between these two weekly trendlines in three and a half years. Despite the technical signal, Bitcoin traded slightly lower, down 0.95% at $82,880.

The moving average crossover marks a potential shift in momentum, reversing a previous bearish crossover identified on weekly charts shared by Raymond James analyst David Cox. Supporting the positive technical layout, the weekly moving average convergence divergence (MACD) histogram posted a reading of 2,349, driven by a recent three-week rise and a separate seven-week upward run.

Investors will monitor whether Bitcoin can sustain its position above these weekly indicators to validate longer-term strength. Market participants will also watch whether MACD levels remain positive or if near-term price volatility interrupts the emerging trend.

Key points

  • Bitcoin's 13-week exponential moving average crossed above its 34-week average for the first time in 3.5 years.
  • The technical crossover is identified as a bullish signal, reversing a previous bearish cross.
  • The weekly MACD histogram registered at 2,349 following recent three-week and seven-week upward runs.
  • Bitcoin (BITSTAMP:BTCUSD) traded down 0.95% at $82,880 following the signal.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

What is the Bitcoin 13/34-week EMA crossover?

It occurs when Bitcoin's 13-week exponential moving average crosses above its 34-week average, a technical chart signal that indicates a potential shift toward positive momentum.

When did Bitcoin last see a bullish 13/34-week EMA crossover?

The signal occurred for the first time in three and a half years on weekly chart analysis.

What is Bitcoin's latest MACD reading?

Bitcoin's weekly MACD histogram read 2,349, reflecting a recent three-week gain and an earlier seven-week upward trend.