Bounced off MA support last week. Bulls still in control
The price of bitcoin gapped higher over the weekend and currently trades above the swing highs from Sept 6-8 at the $4688-92 area. The next target is the $4921 high from September 1.
The bullish bias was helped by the holding of the 200 hour MA last Thursday (green line in the chart above). The bounce off of that level and the subsequent support near the 100 hour MA (blue line) keep the bulls in full control. A move below the MA lines, would be needed to turn the bias more to the downside/bearish side.
