(Edited by James Rubin)Good morning. Here’s what’s happening:Market moves: The crypto market cheers for a “Santa rally” as bitcoin crossed a key price level at $50,000.Technician’s take (Editor’s note): Technician’s Take is taking a holiday hiatus. In its place, First Mover Asia is publishing the third in a series of stories on the year in cryptocurrency markets by CoinDesk … [Read more...] about First Mover Asia: Santa Claus Rally Sends Bitcoin North of $50K
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Bitcoin Technical Indicator Suggests Low Probability of ‘Santa Rally’
Bitcoin may not be able to build on the relief rally as it heads into the year-end, a key technical indicator that’s flipped bearish amid heightened macro risks indicates.“The weekly MACD is on a ‘sell’ signal for the first time since April, increasing risk into year end,” Katie Stockton, founder and managing partner of Fairlead Strategies, said in a weekly research note shared … [Read more...] about Bitcoin Technical Indicator Suggests Low Probability of ‘Santa Rally’
Bitcoin correction weakest of 2021 so far, as hopes of Santa Claus rally rise
In previous bull market cycles, there has been a measurable correction before a rally at the end of the year — and if history rhymes it could be on the cards again.We’ve certainly experienced the correction: Bitcoin hit an all-time high of around $69K on Nov. 10 and has retreated around 17% to current levels.Some mainstream media outlets such as Forbes have taken the view the … [Read more...] about Bitcoin correction weakest of 2021 so far, as hopes of Santa Claus rally rise