Looked at the BTC MACD on the 4 hour chart.

It is very low.

What does this mean?

means there could be a bit of a pop. If you are a scalper/day trader could be a bit of an opportunity to make a few going long. With tight stops in place.

I think after a bit of a pop, it may just be in a small range for a while until the MACD resets, and then further down she goes.

Not trading advice. Just my opinion.