Bitcoin Technical Indicator Suggests Low Probability of ‘Santa Rally’

Posted on by American Coins & Gold

Bitcoin Technical Indicator Suggests Low Probability of ‘Santa Rally’
Bitcoin may not be able to build on the relief rally as it heads into the year-end, a key technical indicator that’s flipped bearish amid heightened macro risks indicates.“The weekly MACD is on a ‘sell’ signal for the first time since April, increasing risk into year end,” Katie Stockton, founder and managing partner of Fairlead Strategies, said in a weekly research note shared with CoinDesk on Monday. There is room for a further sell-off to a point where the asset starts looking oversold in the intermediate-term, she wrote.The MACD histogram is a technical indicator used to identify trend reversals and…