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Crypto bulls looking towards year-end breakout

From bnnbloomberg.ca

The cryptocurrency world is stirring. A technical indicator for an index tracking some of the largest digital currencies suggests the crypto industry could be poised to break out of its recent malaise and rally at year end. The MACD, or moving average convergence divergence, gauge for the Bloomberg Galaxy Crypto Index entered its first positive divergence in a month. The move corresponds with an upward trend in Bitcoin, which makes up around 30 per cent of the fund. Bitcoin is up for the seventh-straight day and is at its highest level in two weeks, hovering around US$6,500. Long-term trend lines in Bitcoin’s ... (full story)

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  • Category: Fundamental Analysis