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Just noticed Bitcoin's momentum indicator flashing a warning sign again. The MACD histogram just went negative for the third time since that October peak, and honestly, the pattern here is hard to ignore.
For those not deep into the technicals, MACD basically measures momentum by comparing moving averages. When the histogram crosses below zero, it's signaling bearish pressure. When it goes positive, you'd think bulls are back - but that's where it gets interesting.
Since October, every time this indicator turned bearish, Bitcoin got absolutely wrecked. November saw it crash from $106K down to $80K. January was worse - another bearish cross sent it tumbling from $90K nearly to $60K. Meanwhile, every bullish cross? Weak bounces that went nowhere. Sellers seem firmly in control right now.
Now here's the thing - MACD just triggered bearish again with Bitcoin sitting around $73.87K. Past performance doesn't guarantee anything, but when a signal has this kind of track record, ignoring it feels risky. The resilience we've seen lately could be about to test some serious support levels. Traders should probably keep their guard up.