Bitcoin to See Return of Bull Cross That Marked Onset of 2016-17 Price Rally
A bitcoin price indicator that marked the beginning of the 2016-17 bull market is about to make another appearance.
Microsoft’s collaboration with blockchain gaming startup Enjin has prompted a roughly 50 percent surge in the project's native token over a two-day period.
Bitcoin sharp rejection at resistance around $7,800 has weakened the short-term bullish outlook.
The widely followed monthly MACD has turned bearish for the first time since May. However, it likely just reflects recent months of price downturn.
Bitcoin's recent $780 pullback lacks volume support from sellers and may be short-lived.
If "digital gold" means "assets where investors park money during financial market turmoil," then bitcoin doesn't fit the bill as well as it used to.