Trend line at $7240 is broken.
A trend line on the hourly chart of Bitcoin, has now been broken with some momentum at $7240. The move has taken the price to a new session low at $6814. We currently trade around $6903 and that is still down -$1160 on the day. Close risk is now the broken trend line at $7240
Unless we get a quick run higher, the benchmark digital currency will close below its 200 day MA for the first times since October 2015. That 200 day MA comes in at $7917. At $6900, the price is $1000 from the MA level now.
Adam points to a hack by North Korea, China regulation, credit card companies banning funding bitcoin accounts (who would do that?).
On Coinbase, the swing low from November was $5511. The swing high from September was at $4980. Targets on the downside.
