That is the first negative value since the first week of February. Back then, BTC was trading at $3,700. As of now, the leading cryptocurrency by market value is changing hands at $10,340 on Bitstamp, representing 2 percent gains on a 24-hour basis. The histogram crossing below zero is considered a sign of the beginning of a new downtrend, while a move above zero is taken as confirmation of a bearish-to-bullish trend change.
Histogram’s latest drop below the zero lines indicates the rally from lows near $3,700 seen in the first week of February topped out at $13,880 in June and the bears have regained control. Many observers consider MACD histogram as a lagging indicator. After all, it is a spread between two moving averages (MAs), which are based on past data. Also, MACD’s bearish crossovers marked an end of corrective pullbacks during the 2015-2017 bull market, as tweeted earlier today by popular analyst Murad Mahmudov.