Bloomberg

Bitcoin close to sounding sell alarm as recent rally cools

On Wednesday, Bitcoin fell as much as 0.6% to around $8,708 in New York trading. Foto: Jens Kalaene, AP Images.

As Bitcoin's recent rally cools, technical signals suggest the biggest cryptocurrency could face further headwinds ahead.

The trading range between Bitcoin's 50- and 200-day moving averages has diminished to its narrowest since June, potentially indicating that an inflection point may be on the horizon. Though Bitcoin's already fallen below its 50-day moving average, a drop below the 200-day could trigger a sell signal...

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