Move below the 100 hour MA today failed. Move above the 200 hour MA failed. Looking for the break and run now
While the US stocks race down and up and down again, the price of bitcoin on the Coinbase exchange has had its share of ups and downs but seems relatively quieter.
Looking at the hourly chart, the digital currency did try to break below the 100 hour MA early in the session (below the blue line currently at $7657). More recently, the price tried to break above the 200 hour MA (green line at the $8384.329 currently), only to come back below.
So there is a bit of a battle.
The price remains near the 200 hour MA. A move above with more momentum is needed to push the price higher from here - from a technical perspective. Failure and the next target will likely be back down toward the 100 hour MA to see if it can hold again.
Relative to stocks, it seems kinda calm in bitcoin land....
