- Bitcoin’s MACD crossover on the weekly chart mirrors previous setups that preceded sharp rallies, including one with an 81% price surge.
- Historical data shows each bullish MACD crossover occurred near local bottoms, triggering extended upward price movement in earlier phases.
- Current MACD signal appears from oversold territory as Bitcoin stabilizes near $68,000, forming technical groundwork for a potential bullish phase.
Bitcoin has registered a weekly MACD bullish crossover, while traders note a confirmed monthly breakout pattern with targets far above current levels. The cryptocurrency trades above $91,000, showing continued market interest and increasing technical strength.
MACD Crossover Points Toward Upward Momentum
On April 21, market analyst JavonMarks posted that Bitcoin’s MACD has formed a bullish crossover on the weekly chart. In the post, he referenced past crossovers in early, mid, and late 2023, each followed by an upward movement in price.
These previous signals were closely aligned with local price bottoms, suggesting possible momentum shifts favoring buyers. The Moving Average Convergence Divergence (MACD) line has now begun to move upward from oversold levels, crossing above the signal line.
According to JavonMarks, the last crossover led to a price increase of roughly 81%. He suggested the current crossover could mark the start of another upward trend. The price of Bitcoin at the time hovered near $68,000, stabilizing after prior volatility.
Weekly and Monthly Structures Reinforce Bullish View
The recent MACD formation is not the only technical pattern catching market attention. Another analyst MerlijnTrader noted on April 21 that Bitcoin has completed a monthly “Head & Shoulders” pattern. His tweet emphasized that the breakout and retest have occurred, with a price target of $340,000 now in play.
He added, “You’re not late. The real bull run hasn’t even started,” suggesting more upside potential remains. This structural breakout pattern is commonly watched by traders to identify trend direction over longer timeframes.
Technical analysts typically look for volume confirmation to support breakout signals. While the $340,000 target remains speculative, the pattern adds to current bullish sentiment forming around multiple chart indicators.
Market Performance Reflects Growing Interest
Bitcoin was trading at $91,229.18, according to market data as of writing. Over the past 24 hours, the asset rose by 4.61%, with a 7-day increase of 8.53%. Daily trading volume reached $45.5 billion, showing active participation.
The alignment between recent technical setups and rising price levels has increased market focus on Bitcoin’s near-term path. If current momentum holds, traders may continue watching for sustained price movement and increased volume support.
