The price of bitcoin is trading lower with the price now down around -2.7% to $94,700.The low price has reached $94,578.
The move lower was foreshadowed by the break and inability to extend back above the broken 200-hour MA at $98244. Buyers turned to sellers.
What next?
The next target support area comes between $90742 to $93480. The 38.2% of the move up from the November low comes in at $89566 and that target can not be ruled out given the run higher from the November low at $66798. The price moves sharply to the upside. It can correct hard too.
This article was written by Greg Michalowski at www.forexlive.com.
The move lower was foreshadowed by the break and inability to extend back above the broken 200-hour MA at $98244. Buyers turned to sellers.
What next?
The next target support area comes between $90742 to $93480. The 38.2% of the move up from the November low comes in at $89566 and that target can not be ruled out given the run higher from the November low at $66798. The price moves sharply to the upside. It can correct hard too.
This article was written by Greg Michalowski at www.forexlive.com.