Bitcoin update: Nothing much to report but bulls hanging on to control

in #xyz • 6 years ago

The price of bitcoin is in a $337 range today. That is not a lot. Over the weekend the activity was not much different.
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However, technically the price has been able to stay above the 100 and 200 hour MAs (blue and green lines). The 200 hour MA has done a good job of slowing declines over the last week of trading and today was no difference.

The buyers remain in control above that MA line. Move below (and see some momentum lower), I can see the buyers start to give up and see more of a corrective move lower.

For today, it is just a quiet day.

6 years ago in #xyz by
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