SUMMARY
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Here is the MACD indicator for Bitcoin (BTC). When viewing the price action in terms of this chart, nothing really has changed. It's still moving well within the contracting lines of the symmetrical triangle. It can and likely will but probably temporarily pierce the lower bottom trend line as shown by the white arrow. However, each day brings the MACD more and more proximal to the apex. I believe the bias is to the upside breakout (white arrow).
When viewing it with the price chart, you can see how the MACD movements are translated. Let's see what's changed. The Cup & Handle pattern remains valid. The current decline is a healthy correction from the recent five wave up move. Is it possible to have this pattern become invaldiated but still have the MACD within its pattern? Yes. However, the pattern doesn't become invalidated until the handle price goes lower than the lowest point in the cup formation. Discipline & Patience attract profits while Fear & Greed repel it.
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