Bitcoin back below 200 hour MA.

Bitcoin back below 200 hour MA.

Can the 100 hour MA hold now?

In an earlier post, the price of Bitcoin was working above the 200 hour MA and 50% retracement. It was looking better (see: “Bitcoin is putting some lipstick on…and looking better.”)  

That bullish look, has lost some of its allure on a move back below those technical levels. 

Now the question becomes, “Can the price stay above the 100 hour MA now?” (blue line in the chart above).

A move below that 100 hour MA, and the bearish side becomes more attractive for traders.  

Right now with the price between, I am not sure about the bull or the bear side, but I can say the bull side has been downgraded on the back of the break failure. 

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