A Twitter hack this week featured Bitcoin in one of its most high-profile scams. But technical indicators suggest that could be just the start of problems for investors in the largest cryptocurrency.
Bitcoin fell as much as 1.9% in Thursday’s session to trade as low as $9,037 in New York -- just points away from testing the critical $9,000 support level. In addition, the GTI Vera Convergence Divergence Indicator, which measures up and down shifts, triggered a new sell signal, the first since early June, when the coin failed to breach $10,000.
“A break below $9,000 would raise a yellow ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.