Bitcoin Chart Hints at Possible Floor for Slide – Bloomberg

Bitcoin’s weekly relative strength index — an indicator of its momentum — has fallen to a level that in the past accompanied floors for selloffs in the cryptocurrency. The zone in question is the 33 to 40 range, and the gauge dipped into the region Friday amid a tumble in the largest digital coin. Bitcoin is down some $30,000 from a November record of nearly $69,000 as speculators question its outlook in a world of receding Federal Reserve stimulus.
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