Here is what I mean by a "MACD Reset"... This is BTCUSD (Bitcoin) on the 4H timeframe.
We can clearly see higher highs and higher lows.
We also have a bullish cross and the histogram going green. That's for the MACD.
The RSI went through similar action printing a higher low and also breaking the downtrend line... It remains above 50 which is good for the bulls:
As for the main chart, we are having 'strong consolidation', prices trading above EMA10, low volume as a continuation signal, and room left available for growth according to the TD Sequential.
There is also strong support just below the current price marked by EMA50 and the Ichimoku Cloud in the case prices drop.
The next targets are mentioned in my previous articles.
In time frame 1h
We have a regular divergence at the top of the chart at Price Bar as well as at MacD & Rsi
This raises the possibility of a price return of $ 25,000