Cryptocurrencies
Bitcoin Indicator Flashes a Buy Just as Haven Narrative Falters
- GTI Vera Convergence Divergence Indicator sends positive read
- Crypto assets posted gains on Monday amid global market tumult
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Just as investors begin to question the logic of Bitcoin serving as a refuge amid global financial-market turmoil, a gauge followed by technical analysts suggests there could be more gains ahead.
Based on the GTI VERA Convergence Divergence Indicator, which detects positive and negative trends, the largest cryptocurrency has generated a new buy signal based on its weekend trading, which saw prices surge. It’s the first buy signal since June when looking at this indicator and could potentially signal new highs are ahead.