The tea-leaves may be turning again for Bitcoin. Chart patterns and measures of momentum are hinting at support just as the latest swoon by the largest cryptocurrency heightens apprehension among speculators and true-believers.
Technical indicators may be well suited to projecting buy and sell signals for digital assets, because they trade on limited fundamentals and are susceptible to animal spirits, as the 2017 mania that saw Bitcoin’s market value jump from less than $1,000 to nearly $20,000 proved.
Eddie van der Walt | Bloomberg