The moving average convergence divergence (MACD) histogram for Bitcoin has flipped positive on the weekly chart for the first time since April, indicating a bullish shift in momentum. This comes as Bitcoin has been trading between $50,000 and $70,000. The positive outlook is in line with expectations of rate cuts by the Federal Reserve, the potential election of pro-crypto candidate Donald Trump, and weakness in the Japanese yen. Bitcoin has already risen nearly 30% since September and the MACD signal suggests that it could establish a foothold above the $70,000 mark. This has happened before in October 2020, when Bitcoin surpassed the $30,000 resistance and eventually reached a record high.



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