BTC weekly MACD flashes bearish signal, with sub-$60K risk

Crypto analyst Omkar Godbole said BTC’s weekly moving average convergence divergence, or MACD, histogram entered negative territory this week, indicating fading upward momentum. Godbole added that if the weekly candle remains negative through Sunday’s close, the bearish signal will be confirmed. Since November 2012, 13 of 24 bearish weekly MACD signals were followed by declines of more than 16% before BTC turned bullish again, he said. If that pattern repeats, BTC could fall from $69,000 to around $57,700.