As bitcoin sell-off abates, technicals point to $8,000 threshold

Bitcoin gained as much as 4% on Friday to trade around $7,770 at 11:40 a.m. in New York. A rise to $8,000 would indicate a gain of about 3% from current levels. Foto: Steve Luciano/AP

Bitcoin bulls have at least one technical indicator to be thankful for.

Based on the GTI Vera Convergence Divergence Indicator, which measures up and down shifts, bitcoin entered a new buying trend, potentially signaling that it's primed to retake the upper end of its trading range around $8,000. That's a welcome sign for bulls who saw bitcoin's price drop more than 15% in November...

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