Coinbry

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BTC Price Stagnates at $29.3K as Bitcoin Signals MACD Bull Flag Reoccurrence

BTC Price Stagnates at $29.3K as Bitcoin Signals MACD Bull Flag Reoccurrence

– BTC price has experienced reduced volatility over the weekend, with a small trading range.

– Traders are waiting for a monthly MACD cross to confirm a potential long-term bullish signal.

– The current price stability is reminiscent of conditions at the start of 2023 before BTC’s significant gains.

– Buying pressure from whales and resistance near $30,000 are being observed on the Binance BTC/USD order book.

– A potential bullish MACD cross on the monthly timeframe is nearing confirmation, which could have positive implications for BTC.

– However, it is important to note that this cross does not necessarily mean BTC is out of its correction mode.

– Historical patterns have shown that MACD crosses can precede significant price movements in the past.

– Readers should conduct their own research and exercise caution when making investment decisions.

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