Cryptocurrencies
Bitcoin Indicator Flashes a Sell Signal as Slump Accelerates
- Token’s technical gauge registers first sell sign since April
- Crypto prices extend declines after SEC sues Kik Over ICO
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As euphoria over cryptocurrencies deflates in the wake of Bitcoin’s biggest monthly surge in almost two years, technical indicators are showing there could be more pain ahead.
The GTI Vera Convergence-Divergence indicator, which detects positive and negative trends, flashed a sell signal for the first time since April, suggesting there could be further downside as Bitcoin halts its recent monster rally.