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Bitcoin Close to Sounding Sell Alarm as Recent Rally Cools

  • Trading range between 50- and 200-DMA is narrowest since June
  • Bitcoin has already dropped below its 50-day moving average
Cryptocurrency Mining As Bitcoin Slides Amid Stocks Rout
Photographer: Akos Stiller/Bloomberg
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As Bitcoin’s recent rally cools, technical signals suggest the biggest cryptocurrency could face further headwinds ahead.

The trading range between Bitcoin’s 50- and 200-day moving averages has diminished to its narrowest since June, potentially indicating that an inflection point may be on the horizon. Though Bitcoin’s already fallen below its 50-day moving average, a drop below the 200-day could trigger a sell signal.