Bitcoin Enters Selling Trend as $10,000 Level Serves as Barrier
- Technical indicators show currency’s price likely to decline
- Price movements resemble August trading highs, then huge drop
This article is for subscribers only.
Following October’s rally, a technical indicator is showing that Bitcoin is entering overbought levels.
The cryptocurrency’s Global Strength Indicator, a measure of upward and downward movements of successive closing prices, is nearing the 70 level, meaning its price is likely to soon decline after becoming overheated.