The moving average convergence divergence histogram (MACD), a key momentum indicator that has been accurate at predicting selloffs since bitcoin hit a record high in October, has triggered a third time. This indicates a renewed bearish shift in momentum. The MACD uses two lines, the MACD line, subtracting the 26-day exponential moving average (EMA) from the 12-day EMA and the Signal line, which indicates momentum. When the histogram turns positive, it signals bullish momentum. However, when it turns negative, this signals bearish momentum. So far, every bullish MACD cross has resulted in disappointing bounces that quickly fade, leading to deeper selloffs once the indicator turns red.