As Bitcoin Sell-Off Abates, Technicals Point to $8,000 Threshold
- Technical indicator suggests Bitcoin entered new buying trend
- Following month of wild swings, Bitcoin’s down 15% in November
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Bitcoin bulls have at least one technical indicator to be thankful for.
Based on the GTI Vera Convergence Divergence Indicator, which measures up and down shifts, Bitcoin entered a new buying trend, potentially signaling that it’s primed to retake the upper end of its trading range around $8,000. That’s a welcome sign for bulls who saw Bitcoin’s price drop more than 15% in November.