RATE Group | Bitcoin Selloff Could be Over, Says this Technical Indicator
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Bitcoin Selloff Could be Over, Says this Technical Indicator

23 Aug Bitcoin Selloff Could be Over, Says this Technical Indicator

Posted at 17:19h in Bitcoin News by

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The massive Bitcoin selloff that has characterized most of the market in 2018 might soon be at an end based on the data from a technical indicator. If correct, the top-ranked cryptocurrency may experience a substantial price rally in the last quarter of the year.

Technical Indicator Shows Imminent Bitcoin Trend Reversal

According to Bloomberg, Bitcoin traders might soon experience an end to the selloff of the cryptocurrency. This is based on a technical signal – the GTI VERA Convergence Divergence Indicator. Data from this indicator points towards a trend reversal for Bitcoin that would excite many BTC bulls who have been disconsolate for most of 2018.

Image result for Bitcoin Technical Sign Suggests Selloff May Be Almost Over

Historically speaking, the GTI VERA Convergence Divergence Indicator has performed well in the past especially with trend reversals. The last time the indicator pointed towards a trend reversal, Bitcoin recovered from a significant dip to increase by almost 40 percent the following month.

The GTI VERA Convergence Divergence Indicator…

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