Let’s discuss the MACD golden cross on the $ICNT daily chart. First, let’s be clear about its two limitations:
First, it lags. MACD is derived from moving averages, so by the time the golden cross appears, the price has often already rebounded some distance from its low (up 16.91% over 24 hours).
Second, it is unreliable in choppy markets. In a range-bound market, golden and death crosses can appear repeatedly, producing many false signals.
Before this crossover, the opposite-direction histogram bars lasted only 6 daily candles—a short period—so beware of repeated crossovers.
#ICNT
The above is a summary of publicly available information. Please verify it independently.
First, it lags. MACD is derived from moving averages, so by the time the golden cross appears, the price has often already rebounded some distance from its low (up 16.91% over 24 hours).
Second, it is unreliable in choppy markets. In a range-bound market, golden and death crosses can appear repeatedly, producing many false signals.
Before this crossover, the opposite-direction histogram bars lasted only 6 daily candles—a short period—so beware of repeated crossovers.
#ICNT
The above is a summary of publicly available information. Please verify it independently.