Bitcoin’s Break Below $9,000 Risks Erasing Xi-Inspired Rally

Bitcoin’s push back below $9,000 has a key technical indicator suggesting the cryptocurrency risks entering a selling trend.

The GTI Vera Convergence Divergence Indicator shows a narrowing gap between the signal and vera lines, which suggests a trend change may be on the horizon. If this occurs, the largest digital currency could retest the lows seen before its rampant run following comments by China’s President Xi Jinping in October.

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