Bitcoin back above its 100 hour MA. Buyers in control

  


The 100 hour MA is at 23282.80.

The price of Bitcoin on the Coinbase trading up around $300 and $23,450.  The high price today reached $23,628.34. The low extended to $22,380.05.

The 100 hour MA is at 23282.80._

Looking at the hourly chart above, the price has moved back above its 100 hour moving average at $23,282.82.  During yesterday’s trade, the price of the digital currency fell below its 100 hour moving average and corrected back up toward it but found sellers.  The move back above the 100 hour moving average tilts the technical bias more to the upside.  Stay above is more bullish.

The all time high price reached a level of $24,300 on Sunday.  Before moving to the downside. The low price from yesterday’s trade stayed above the 38.2% retracement of the move up from the December 11 swing low.  The low price reached $21,913.84. The 38.2% retracement was a few hundred dollars lower at $21,732.96.

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