Cryptocurrency
Crypto Market Stuck in Negative Trend With Bitcoin Below $10,000
As reported by Bloomberg, “With major digital coins failing to break out meaningfully in recent weeks, crypto markets can’t seem to pull out of a funk. “Based on the DVAN Buying and Selling Pressure Indicator — which depicts bull/bear trends — the Bloomberg Galaxy Crypto Index appears to be stuck in a negative trend and […]
As reported by Bloomberg, “With major digital coins failing to break out meaningfully in recent weeks, crypto markets can’t seem to pull out of a funk.
“Based on the DVAN Buying and Selling Pressure Indicator — which depicts bull/bear trends — the Bloomberg Galaxy Crypto Index appears to be stuck in a negative trend and is heading further away from the 400 level that’s previously acted as a point of resistance.
“In order to breach it, the index — which tracks major cryptocurrencies — would need to see its two largest components, Ether and Bitcoin, rally, though the latter has seen difficulty in taking out its own resistance level of $10,000. The gauge could post further declines if it does not see a trend reversal…”