Sell Signal Last Formed Prior to March Bitcoin Crash Is Inching Closer

5f6fe5512761f

Bitcoin has been in a strong rally since the March lows. The coin moved from $3,500 at those lows to around $12,500 at the local highs. Unfortunately for bulls, a crucial sell signal is on the verge of appearing that may mark a medium-term top for Bitcoin. The indicator last formed just prior to the March capitulation crash. Bitcoin Could Soon Undergo Retracement: Trend Indicator Shows Bitcoin has undergone a strong rally since the March lows. The cryptocurrency more than tripled, rallying from $3,500 to highs of $12,500 in August. The coin now trades at $10,800, slightly below those highs but still far above the March lows. Unfortunately for bulls, a crucial trend indicator has formed that suggests the rally that Bitcoin has undergone may soon end. The indicator, the parabolic stop and reversal (parabolic SAR), is about to print a textbook “sell” signal after the strong move higher. Should…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE